Document ID: chunk:federal_register_of_legislation:C2022C00033:section:4:p14
Version: federal_register_of_legislation:C2022C00033
Segment Type: section
Provision Reference: s 4 (pt 14/29)
Character Range: 41740–44190

*taxable supply of a luxury car; and
 (b) the whole or part of the *consideration for the supply has not been received; and
 (c) you write off as bad the whole or a part of the debt, or the whole or a part of the debt has been *overdue for 12 months or more.
 (2) The decreasing luxury car tax adjustment is equal to:
 (a) the amount of luxury car tax that was payable by you on the supply taking into account any previous *luxury car tax adjustments for the supply; minus
 (b) the amount of luxury car tax (if any) that would be payable if the *price of the supply of the car (disregarding any previous *luxury car tax adjustments for the supply) was reduced by an amount equal to the sum of:
 (i) the amount or amounts of the debt written off as bad; and
 (ii) the amount of the debt that has been *overdue for 12 months or more (other than amounts already written off).
 (3) You cannot have a *luxury car tax adjustment under this section if you *account on a cash basis.

15‑45  Recovering amounts previously written off
 (1) You have an increasing luxury car tax adjustment if:
 (a) you made a *taxable supply of a luxury car in relation to which you had a *decreasing luxury car tax adjustment under section 15‑40 for a debt; and
 (b) you recover the whole or a part of the amount or amounts of the debt that have been written off as bad or *overdue for 12 months or more.
 (2) The increasing luxury car tax adjustment is equal to:
 (a) the amount of luxury car tax (if any) that would be payable if the *price of the supply of the car (disregarding any previous *luxury car tax adjustments for the supply) was reduced by the sum of:
 (i) the amount or amounts of the debt previously written off as bad; and
 (ii) the amount of the debt that has been *overdue for 12 months or more (other than amounts already written off);
  and then increased by an amount equal to the amount or amounts recovered; minus
 (b) the amount of luxury car tax (if any) payable on the supply of the luxury car, taking into account any previous *luxury car tax adjustments for the supply.

Division 16—GST groups and GST joint ventures

16‑1  What this Division is about
      The representative member of a GST group deals with all of the luxury car tax liabilities and entitlements of the group. The joint venture operator of a GST joint venture deals with the luxury car tax liabilities and entitlements arising from the operator's dealings on behalf of the other