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Income Tax Assessment Act 1997
17‑10 Certain decreasing adjustments17‑10 Certain decreasing adjustments
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17‑10 Certain decreasing adjustments
(1) An amount of a *decreasing adjustment that arises under Division 129 or 132 of the *GST Act is assessable income, unless the entity that has the adjustment is an *exempt entity. (2) However, the amount is not assessable income to the extent that, because it becomes a component of a *net input tax credit, a reduction is made under section 103‑30 (reduction of cost base etc. by net input tax credits).