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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 51.40

Adjustments

  (1)   Any * adjustment relating to any supply, acquisition or importation that the * joint venture operator of a * GST joint venture makes, on behalf of another entity that is a * participant in the joint venture, in the course of activities for which the joint venture was entered into is to be treated as if:

  (a)   the participant did not have the adjustment; and

  (b)   the entity that is the joint venture operator at the time the adjustment arises had the adjustment.

  (2)   This section has effect despite section   17 - 10 (which is about the effect of adjustments on net amounts).


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