Document ID: chunk:federal_register_of_legislation:C2025C00126:clause:3_16:p35
Version: federal_register_of_legislation:C2025C00126
Segment Type: clause
Provision Reference: sch 3 cl 16 (pt 35/58)
Character Range: 726397–729101

thing—the cost to you or the deceased person of acquiring or producing the thing (plus the *assessed GST paid on its importation), but only if the amount is less than that value.
 (3) However, an *adjustment does not arise under this section in respect of the asset if:
 (a) the asset related to an *enterprise that the deceased person *carried on, and the beneficiary intends to continue to carry on that enterprise; or
 (b) there were one or more *adjustment periods for the deceased person's acquisition or importation of the asset, and the last of those adjustment periods has ended before the cancellation of your *registration takes effect.

139‑10  Attributing adjustments for distributions from deceased estates
 (1) An *adjustment that you have under this Division is attributable to the tax period in which it arises.
 (2) This section has effect despite section 29‑20 (which is about attributing your adjustments).

139‑15  Application of Division 129
  This Division does not affect the operation of Division 129 (which is about changes in the extent of creditable purpose).

Division 141—Tradex scheme goods

141‑1  What this Division is about
      The holder of a tradex order has an increasing adjustment if goods relating to that order are dealt with contrary to the Tradex Scheme.
Note: GST would not have been payable on importation of the goods under the Tradex Scheme: see section 42‑5.

141‑5  Adjustments for applying goods contrary to the Tradex Scheme
 (1) You have an increasing adjustment if:
 (a) you import *tradex scheme goods; and
 (b) you are the holder (within the meaning of the Tradex Scheme Act 1999) of the *tradex order relating to the goods; and
 (c) the importation would have been a *taxable importation if the goods had not been covered by item 21A of Schedule 4 to the Customs Tariff Act 1995 at the time of their entry for home consumption under the Customs Act 1901; and
 (d) any of the circumstances referred to in subsection 21(1) of that Act occur in respect of any of the goods.
However, the increasing adjustment only arises in relation to the first occurrence of such a circumstance following an importation of the goods.
 (2) The amount of the *increasing adjustment is the difference between:
 (a) the amount of GST that would have been payable on the importation if the importation had been a *taxable importation; and
 (b) the amount (if any) of the input tax credit to which you would have been entitled for the importation if the importation had been a taxable importation.

141‑10  Meaning of tradex scheme goods etc.
 (1) Tradex scheme goods are imported goods that:
 (a) are nominated goods (within the meaning of the Tradex Scheme Act 1999) in