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A New Tax System (Goods and Services Tax) Act 1999
51‑40 Adjustments51‑40 Adjustments
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51‑40 Adjustments
(1) Any *adjustment relating to any supply, acquisition or importation that the *joint venture operator of a *GST joint venture makes, on behalf of another entity that is a *participant in the joint venture, in the course of activities for which the joint venture was entered into is to be treated as if: (a) the participant did not have the adjustment; and (b) the entity that is the joint venture operator at the time the adjustment arises had the adjustment. (2) This section has effect despite section 17‑10 (which is about the effect of adjustments on net amounts).