Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p18
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 18/37)
Character Range: 437394–440153

paid or payable, or any *decreasing adjustment related to that amount; and
 (b) an element in the calculation that is an amount received or receivable is treated as not including an amount equal to any *GST payable on a *taxable supply related to the amount received or receivable, or any *increasing adjustment related to that amount.

27‑25  GST groups and GST joint ventures
 (1) A *member of a *GST group is to be treated, for the purposes of this Division, as if Subdivision 48‑B of the *GST Act (other than subsections 48‑45(3) and (4)) did not apply to that member.
 (2) A *participant in a *GST joint venture is to be treated, for the purposes of this Division, as if Subdivision 51‑B of the *GST Act did not apply to that participant.

27‑35  Certain sections not to apply to certain assets or expenditure
  Sections 27‑5, 27‑10, 27‑15 and 27‑20 do not apply to assets, or to expenditure, for which you can deduct amounts under Division 40 or 328.
Note: See instead Subdivision 27‑B.

Subdivision 27‑B—Effect of input tax credits etc. on capital allowances

Table of sections
27‑80 Cost or opening adjustable value of depreciating assets reduced for input tax credits
27‑85 Cost or opening adjustable value of depreciating assets reduced: decreasing adjustments
27‑87 Certain decreasing adjustments included in assessable income
27‑90 Cost or opening adjustable value of depreciating assets increased: increasing adjustments
27‑92 Certain increasing adjustments can be deducted
27‑95 Balancing adjustment events
27‑100 Pooling
27‑105 Other Division 40 expenditure
27‑110 Input tax credit etc. relating to 2 or more things

27‑80  Cost or opening adjustable value of depreciating assets reduced for input tax credits
 (1) A *depreciating asset's *cost is reduced if:
 (a) an entity's acquisition or importation of the asset constitutes a *creditable acquisition or *creditable importation; and
 (b) the entity is or becomes entitled to an *input tax credit for the acquisition or importation; and
 (c) the entity can deduct amounts for the asset under Division 40 or 328.
The reduction is the amount of the input tax credit.
 (2) A *depreciating asset's *cost is also reduced if:
 (a) the entity that *holds the asset incurs expenditure that is included in the second element of the asset's cost for the income year in which the asset's *start time occurs; and
 (b) the entity is or becomes entitled to an *input tax credit for the *creditable acquisition or *creditable importation to which the expenditure relates; and
 (c) the entity can deduct amounts for the asset under Division 40 or 328.
The reduction is the amount of the input tax credit.
 (3) However, subsections (1) and (2) do not apply if the *cost of the *depreciating asset is modified