Document ID: chunk:federal_register_of_legislation:C2025C00126:clause:3_16:p10
Version: federal_register_of_legislation:C2025C00126
Segment Type: clause
Provision Reference: sch 3 cl 16 (pt 10/58)
Character Range: 664409–667081

*creditable acquisition or *creditable importation); and
 (b) ends:
 (i) on 30 June in any year; or
 (ii) if none of the tax periods applying to you in a particular year ends on 30 June—closer to 30 June than any of the other tax periods applying to you in that year.
In addition, a tax period provided for under section 27‑39 or 27‑40 or subsection 151‑55(1) or 162‑85(1) is an adjustment period for the acquisition or importation.
Note: Section 27‑39 deals with an incapacitated entity's tax periods. Section 27‑40 and subsections 151‑55(1) and 162‑85(1) deal with an entity's concluding tax period.
 (2) Despite subsection (1), for an acquisition or importation that *relates to business finance:
 (a) if the *GST exclusive value of the acquisition or importation is $50,000 or less—only the first such tax period is an adjustment period; or
 (b) if the GST exclusive value of the acquisition or importation is more than $50,000 but less than $500,000—only the first 5 such tax periods are adjustment periods; or
 (c) if the GST exclusive value of the acquisition or importation is $500,000 or more—only the first 10 such tax periods are adjustment periods.
 (3) Despite subsection (1), for an acquisition or importation that does not *relate to business finance:
 (a) if the *GST exclusive value of the acquisition or importation is $5,000 or less—only the first 2 such tax periods are adjustment periods; or
 (b) if the GST exclusive value of the acquisition or importation is more than $5,000 but less than $500,000—only the first 5 such tax periods are adjustment periods; or
 (c) if the GST exclusive value of the acquisition or importation is $500,000 or more—only the first 10 such tax periods are adjustment periods.
However, the Commissioner may, having regard to record keeping requirements for the purposes of income tax, determine in writing that a fewer number of tax periods are adjustment periods for a particular class of acquisitions or importations that do not *relate to business finance.

129‑25  Effect on adjustment periods of things being disposed of etc.
 (1) Despite section 129‑20, if:
 (a) you dispose of a thing acquired or imported (other than in circumstances giving rise to a *decreasing adjustment under Division 132); or
 (b) a thing acquired or imported is lost, stolen or destroyed; or
 (c) a thing is acquired only for a particular period and that period expires;
the next tax period applying to you that ends:
 (d) on 30 June in any year; or
 (e) if none of the tax periods applying to you in a particular year ends on 30 June—closer to 30 June than any of the other tax periods applying to you in that year;
is the last *adjustment