A New Tax System (Goods and Services Tax) Act 1999
79‑55 Increasing adjustments for payment79‑55 Increasing adjustments for payments of excess etc. under compulsory third party schemes
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79‑55 Increasing adjustments for payments of excess etc. under compulsory third party schemes
(1) An *operator of a *compulsory third party scheme has an increasing adjustment if: (a) there is a payment of an excess to the operator under the scheme; and (b) the payment relates to a *CTP compensation payment or supply that the operator makes or has made; and (c) the operator makes, or has made, *creditable acquisitions or *creditable importations directly for the purpose of making the CTP compensation payment or supply. (2) The amount of the increasing adjustment is 1/11 of the amount that represents the extent to which the payment of excess relates to *creditable acquisitions or *creditable importations made by the *operator directly for the purpose of making the *CTP compensation payment or supply. (3) An *operator of a *compulsory third party scheme has an increasing adjustment if: (a) there is a payment of an excess to the operator under the scheme; and (b) the operator makes, or has made, *creditable acquisitions or *creditable importations directly for the purpose of making a *CTP compensation payment or supply to which the payment of excess would relate; and (c) the operator has not made any CTP compensation payment or supply to which the payment of excess relates. The amount of the increasing adjustment is 1/11 of the amount of the payment of excess.