Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 153.10

  (1)   If:

  (a)   you have a * decreasing adjustment relating to a supply made by you through an agent or made to you through an agent; and

  (b)   neither you nor your agent holds an * adjustment note or * third party adjustment note for the adjustment when you give to the Commissioner a * GST return for the tax period to which the adjustment would otherwise be attributable;

then:

  (c)   the adjustment (including any part of the adjustment) is not attributable to that tax period; and

  (d)   the adjustment (or the part of the adjustment) is attributable to the first tax period for which you give to the Commissioner a GST return at a time when you or your agent holds that adjustment note or third party adjustment note.

  (2)   This section has effect despite subsections   29 - 20(3) (which is about the requirement to hold an adjustment note) and 134 - 15(1) (which is about the requirement to hold a third party adjustment note).