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Income Tax Assessment Act 1997
17‑15 Elements in calculation of amounts17‑15 Elements in calculation of amounts
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#### 17‑15 Elements in calculation of amounts
In calculating an amount that may be included in assessable income:
(a) an element in the calculation that is an amount received or receivable is treated as not including an amount equal to any \*GST payable on a \*taxable supply related to the amount received or receivable, or any \*increasing adjustment related to that amount; and
(b) an element in the calculation that is an amount paid or payable is treated as not including an amount equal to any \*input tax credit for an \*acquisition related to the amount paid or payable, or any \*decreasing adjustment related to that amount.