(1) An adjustment event is any event which has the effect of:
(a) cancelling a supply or acquisition; or
(b) changing the * consideration for a supply or acquisition; or
(c) causing a supply or acquisition to become, or stop being, a * taxable supply or * creditable acquisition.
Example: If goods that are supplied for export are not exported within the time provided in section 38-185, the supply is likely to become a taxable supply after originally being a supply that was GST-free.
(2) Without limiting subsection (1), these are * adjustment events:
(a) the return to a supplier of a thing, or part of a thing, supplied (whether or not the return involves a change of ownership of the thing);
(b) a change to the previously agreed * consideration for a supply or acquisition, whether due to the offer of a discount or otherwise;
(c) a change in the extent to which an entity that makes an acquisition provides, or is liable to provide, consideration for the acquisition (unless the entity * accounts on a cash basis).
(3) An * adjustment event:
(a) can arise in relation to a supply even if it is not a * taxable supply; and
(b) can arise in relation to an acquisition even if it is not a * creditable acquisition.
(4) However, the return of a thing supplied, or part of a thing supplied, to its supplier is not an * adjustment event if the return is for the purpose of repair or maintenance.