22BEffect of GST etc. on assessable receipts

22B Effect of GST etc. on assessable receipts

(1) For the purposes of this Division, a reference to consideration receivable, to value receivable or to an amount receivable does not include an amount equal to: (a) any GST payable on the supply for which the consideration, value or amount was receivable; or (b) any increasing adjustments that relate to that supply. (2) For the purposes of this Division, a reference to the sale price of property does not include an amount equal to: (a) any GST payable on the sale; or (b) any increasing adjustments that relate to that sale. (3) For the purposes of this Division, a reference to expenses payable in relation to a sale does not include an amount equal to: (a) any input tax credit to which you are entitled; or (b) any decreasing adjustment that you have; in relation to those expenses.