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Income Tax Assessment Act 1997
17‑5 GST and increasing adjustments17‑5 GST and increasing adjustments
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17‑5 GST and increasing adjustments
An amount is not assessable income, and is not *exempt income, to the extent that it includes an amount relating to: (a) *GST payable on a *taxable supply; or (b) an *increasing adjustment that relates to a *supply; or (c) an *increasing adjustment that: (i) relates to an *acquisition; and (ii) arises in circumstances that also give rise to a *recoupment that is included in assessable income.