Document ID: chunk:federal_register_of_legislation:F2015L00566:reg:16
Version: federal_register_of_legislation:F2015L00566
Segment Type: reg
Provision Reference: reg 16
Character Range: 8289–9186

16  Adjustment of net amounts
 (1) If an untaxable Commonwealth entity has any notional adjustments that are attributable to a tax period, the entity's net amount for the period is to be altered by:
 (a) adding to the net amount the sum of all the notional increasing adjustments that are attributable to the period; and
 (b) subtracting from the net amount the sum of all the notional decreasing adjustments that are attributable to the period.
 (2) For subsection (1):
 (a) an increasing adjustment is worked out under the GST Act or the LCT Act as if the entity were not an untaxable Commonwealth entity; and
 (b) a decreasing adjustment is worked out under the GST Act or the LCT Act as if the entity were not an untaxable Commonwealth entity; and
 (c) an adjustment is attributable to the tax period to which it would be attributable if the entity were not an untaxable Commonwealth entity.