Document ID: chunk:federal_register_of_legislation:C2004C01190:clause:2_216:p8
Version: federal_register_of_legislation:C2004C01190
Segment Type: clause
Provision Reference: sch 2 cl 216 (pt 8/8)
Character Range: 151289–152405

that relates directly or indirectly to the expenditure, an amount equal to the decreasing adjustment is included in the entity's assessable income for that income year.

 (4) If the entity has an *increasing adjustment in an income year that relates directly or indirectly to the expenditure, the entity can deduct an amount equal to the increasing adjustment for that income year.

 (5) If the entity is a partnership and section 40‑570 or 40‑665 applies, an amount equal to the *input tax credit, the *decreasing adjustment or the *increasing adjustment is apportioned to each of the partners as appropriate.

 (6) However, this section does not apply to an *exempt entity.

27‑110  Input tax credit etc. relating to 2 or more things

  This Subdivision applies to an *input tax credit, or an *increasing adjustment or *decreasing adjustment, that relates directly or indirectly to 2 or more things of which at least one is a *depreciating asset as if a reasonable proportion of the input tax credit or adjustment related directly or indirectly to each of those depreciating assets and each of those other things.