Document ID: chunk:federal_register_of_legislation:C2025C00126:clause:3_16:p30
Version: federal_register_of_legislation:C2025C00126
Segment Type: clause
Provision Reference: sch 3 cl 16 (pt 30/58)
Character Range: 713845–716631

and
                (b) the amount of the debt that has been *overdue for 12 months or more (other than amounts already written off).

           Step 3. Subtract the step 2 amount from the *price of the supply.
           Step 4. Add to the step 3 amount an amount equal to the amount or amounts, written off or overdue for 12 months or more, that have been recovered.
           Step 5. Work out the amount of GST (if any), taking into account any previous *adjustments for the supply (but not adjustments relating to bad debts or debts overdue), that would be payable on the supply if the *price of the supply were the step 4 amount. This amount of GST is the adjusted GST amount.
           Step 6. Subtract the previous GST amount from the adjusted GST amount.

136‑40  Bad debts written off (creditable acquisitions)
 (1) The amount of an *increasing adjustment that you have under section 21‑15, relating to a *creditable acquisition that is *creditable at less than 1/11 of the consideration, is worked out under this section and not under section 21‑15.
 (2) This is how to work out the amount:

      Method statement
           Step 1. Work out the amount of the input tax credit (if any) to which you were entitled for the acquisition, taking into account any previous *adjustments for the acquisition. This amount is the previous credit amount.
           Step 2. Add together:

                (a) the amount or amounts previously written off as bad from the debt to which the increasing adjustment relates; and
                (b) the amount of the debt that has been *overdue for 12 months or more (other than amounts already written off).

           Step 3. Subtract the step 2 amount from the total amount of the *consideration that you have either provided, or are liable to provide, for the acquisition.
           Step 4. Work out the amount of the input tax credit (if any), taking into account any previous *adjustments for the acquisition (but not adjustments relating to bad debts or debts overdue), to which you would be entitled for the acquisition if the *consideration for the acquisition were the step 3 amount. This amount of GST is the adjusted credit amount.
           Step 5. Subtract the adjusted credit amount from the previous credit amount.

136‑45  Recovering amounts previously written off (creditable acquisitions)
 (1) The amount of a *decreasing adjustment that you have under section 21‑20, relating to a *creditable acquisition that is *creditable at less than 1/11 of the consideration, is worked out under this section and not under section 21‑20.
 (2) This is how to work out the amount:

      Method statement
           Step 1. Work out the amount of the input tax credit (if any) to which you were entitled for the acquisition,