80‑70 Managing operator’s increasing adj80‑70 Managing operator’s increasing adjustment where contributing operator’s payment

80‑70 Managing operator’s increasing adjustment where contributing operator’s payment

(1) If: (a) a *contributing operator’s payment is made; and (b) as a result of section 80‑60, there was a *decreasing adjustment for the *managing operator under Division 79 in relation to the *managing operator’s payment or supply; there is an increasing adjustment for the managing operator of the following amount:

Start formula start fraction *Contributing operator's payment over Managing operator's settlement amount (see subsection (2)) end fraction times *Decreasing adjustment end formula

Managing operator’s settlement amount (2) The managing operator’s settlement amount mentioned in subsection (1) is worked out using this method statement.

Method statement

Step 1. Add together:

(a) the sum of the payments of *money, or *digital currency, (if any) that are included in the *managing operator’s payment or supply; and

(b) the *GST inclusive market value of the supplies (if any) that are included in the *managing operator’s payment or supply (other than supplies that would have been *taxable supplies but for section 78‑25 or 79‑60).

Step 2. If, in relation to the *managing operator’s payment or supply, any payments of an excess were made to the *managing operator, subtract from the step 1 amount the sum of all those payments (except to the extent that they are payments of excess to which section 78‑18 or 79‑55 applies).