Document ID: chunk:federal_register_of_legislation:C2005A00078:clause:6_18
Version: federal_register_of_legislation:C2005A00078
Segment Type: clause
Provision Reference: sch 6 cl 18
Character Range: 30763–31978

18  After section 75‑20
Insert:

75‑22  Increasing adjustment relating to input tax credit entitlement

 (1) You have an increasing adjustment if:
 (a) you make a *taxable supply of *real property under the *margin scheme; and
 (b) an acquisition that you made of part of the interest, unit or lease in question was made through a supply that was *ineligible for the margin scheme; and
 (c) you were, or are, entitled to an input tax credit for the acquisition.
The amount of the increasing adjustment is an amount equal to the *previously attributed input tax credit amount for the acquisition.

 (2) You have an increasing adjustment if:
 (a) you make a *taxable supply of *real property under the *margin scheme; and
 (b) you acquired all or part of the interest, unit or lease in question by inheriting it; and
 (c) the entity from whom you inherited (the deceased) had acquired part of the interest, unit or lease that you inherited through a supply that was *ineligible for the margin scheme; and
 (d) the deceased was entitled to an input tax credit for that acquisition.
The amount of the increasing adjustment is an amount equal to the *previously attributed input tax credit amount for the acquisition.