Document ID: chunk:federal_register_of_legislation:C2024C00818:section:22b
Version: federal_register_of_legislation:C2024C00818
Segment Type: section
Provision Reference: s 22B
Character Range: 83369–84219

22B  Effect of GST etc. on assessable receipts
 (1) For the purposes of this Division, a reference to consideration receivable, to value receivable or to an amount receivable does not include an amount equal to:
 (a) any GST payable on the supply for which the consideration, value or amount was receivable; or
 (b) any increasing adjustments that relate to that supply.
 (2) For the purposes of this Division, a reference to the sale price of property does not include an amount equal to:
 (a) any GST payable on the sale; or
 (b) any increasing adjustments that relate to that sale.
 (3) For the purposes of this Division, a reference to expenses payable in relation to a sale does not include an amount equal to:
 (a) any input tax credit to which you are entitled; or
 (b) any decreasing adjustment that you have;
in relation to those expenses.