(1) The net amount for a tax period applying to you is worked out using the following formula:
"GST" is the sum of all of the GST for which you are liable on the * taxable supplies that are attributable to the tax period.
"input tax credits" is the sum of all of the input tax credits to which you are entitled for the * creditable acquisitions and * creditable importations that are attributable to the tax period.
Note 1: For the basic rules on what is attributable to a particular period, see Division 29.
Note 2: For further rules if you have excess GST for the period, see Division 142.
(2) However, the * net amount for the tax period:
(a) may be increased or decreased if you have any * adjustments for the tax period; and
(b) may be increased or decreased under Subdivision 21-A of the * Wine Tax Act; and
(c) may be increased or decreased under Subdivision 13-A of the A New Tax System (Luxury Car Tax) Act 1999 .
Note 1: Under Subdivision 21-A of the Wine Tax Act, amounts of wine tax increase the net amount, and amounts of wine tax credits reduce the net amount.
Note 2: Under Subdivision 13-A of the A New Tax System (Luxury Car Tax) Act 1999 , amounts of luxury car tax increase the net amount, and luxury car tax adjustments alter the net amount.