Document ID: chunk:federal_register_of_legislation:C2025C00126:section:17:p2
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 17 (pt 2/3)
Character Range: 108803–111574

events occur during a tax period; and
 (b) GST on the supply was attributable to an earlier tax period (or, if the supply was not a taxable supply, would have been attributable to an earlier tax period had the supply been a taxable supply); and
 (c) as a result of those adjustment events, the *previously attributed GST amount for the supply (if any) no longer correctly reflects the amount of GST (if any) on the supply (the corrected GST amount), taking into account any change of circumstances that has given rise to an adjustment for the supply under this Subdivision or Division 21 or 134.

19‑45  Previously attributed GST amounts
  The previously attributed GST amount for a supply is:
 (a) the amount of any GST that was attributable to a tax period in respect of the supply; plus
 (b) the sum of any *increasing adjustments, under this Subdivision or Division 21, that were previously attributable to a tax period in respect of the supply; minus
 (c) the sum of any *decreasing adjustments, under this Subdivision or Division 21 or 134, that were previously attributable to a tax period in respect of the supply.

19‑50  Increasing adjustments for supplies
  If the *corrected GST amount is greater than the *previously attributed GST amount, you have an increasing adjustment equal to the difference between the corrected GST amount and the previously attributed GST amount.

19‑55  Decreasing adjustments for supplies
  If the *corrected GST amount is less than the *previously attributed GST amount, you have a decreasing adjustment equal to the difference between the previously attributed GST amount and the corrected GST amount.

Subdivision 19‑C—Adjustments for acquisitions

19‑70  Where adjustments for acquisitions arise
 (1) You have an adjustment for an acquisition for which you are entitled to an input tax credit (or would be entitled to an input tax credit if the acquisition were a *creditable acquisition) if:
 (a) in relation to the acquisition, one or more *adjustment events occur during a tax period; and
 (b) an input tax credit on the acquisition was attributable to an earlier tax period (or, if the acquisition was not a creditable acquisition, would have been attributable to an earlier tax period had the acquisition been a creditable acquisition); and
 (c) as a result of those adjustment events, the *previously attributed input tax credit amount for the acquisition (if any) no longer correctly reflects the amount of the input tax credit (if any) on the acquisition (the corrected input tax credit amount).
 (2) In working out the *corrected input tax credit amount for the acquisition:
 (a) take into account any change of circumstances that has given rise to an adjustment for the acquisition under this Subdivision or Division