Document ID: chunk:federal_register_of_legislation:C2025C00126:clause:3_16:p14
Version: federal_register_of_legislation:C2025C00126
Segment Type: clause
Provision Reference: sch 3 cl 16 (pt 14/58)
Character Range: 674486–677252

private or domestic use
 (1) You have an increasing adjustment if:
 (a) you made a *creditable acquisition or *creditable importation of goods; and
 (b) the acquisition or importation was solely for a *creditable purpose; and
 (c) you *apply the goods solely to private or domestic use.
 (2) The amount of the increasing adjustment is an amount equal to the amount of the input tax credit to which you were entitled for the acquisition or importation, taking account of any *adjustments for the acquisition or importation.
 (3) However, this section does not apply if you have previously had an adjustment under Division 129 for the acquisition or importation.

Division 131—Annual apportionment of creditable purpose

Table of Subdivisions
131‑A Electing to have annual apportionment
131‑B Consequences of electing to have annual apportionment

131‑1  What this Division is about
      In some cases, you may be able to claim a full input tax credit for acquisitions that are only partly for a creditable purpose. You will then have an increasing adjustment for a later tax period (that better matches your obligation to lodge an income tax return).

Subdivision 131‑A—Electing to have annual apportionment

131‑5  Eligibility to make an annual apportionment election
 (1) You are eligible to make an *annual apportionment election if:
 (a) either:
 (i) you are a *small business entity (other than because of subsection 328‑110(4) of the *ITAA 1997) for the *income year in which you make your election; or
 (ii) you do not carry on a *business and your *GST turnover does not exceed the *annual apportionment turnover threshold; and
 (b) you have not made any election under section 162‑15 to pay GST by instalments (other than such an election that is no longer in effect); and
 (c) you have not made any *annual tax period election (other than such an election that is no longer in effect).
 (2) The annual apportionment turnover threshold is:
 (a) $2 million; or
 (b) such higher amount as the regulations specify.

131‑10  Making an annual apportionment election
 (1) You may make an *annual apportionment election if you are eligible under section 131‑5.
 (2) Your election takes effect from:
 (a) the start of the earliest tax period for which, on the day on which you make your election, your *GST return is not yet due (taking into account any further period the Commissioner allows under paragraph 31‑8(1)(b) or 31‑10(1)(b)); or
 (b) the start of such other tax period as the Commissioner allows, in accordance with a request you make in the *approved form.
Note: Refusing a request to allow your election to take effect from the start of another tax period is a reviewable GST decision (see Subdivision 110‑F in Schedule 1 to the Taxation Administration