Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 135.5

  (1)   You have an increasing adjustment if:

  (a)   you are the * recipient of a * supply of a going concern, or a supply that is * GST - free under section   38 - 480; and

  (b)   you intend that some or all of the supplies made through the * enterprise to which the supply relates will be supplies that are neither * taxable supplies nor * GST - free supplies.

  (2)   The amount of the increasing adjustment is as follows:

where:

"proportion of non-creditable use" is the proportion of all the supplies made through the * enterprise that you intend will be supplies that are neither * taxable supplies nor * GST - free supplies, expressed as a percentage worked out on the basis of the * prices of those supplies.

"supply price" means the * price of the supply in relation to which the increasing adjustment arises.