Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If:
(a) a * contributing operator's payment is made; and
(b) as a result of section 80 - 20, there was a * decreasing adjustment for the * managing operator under Division 78 or 79 in relation to the * managing operator's payment or supply;
there is an increasing adjustment for the managing operator of the following amount:
Managing operator's settlement amount
(2) The managing operator's settlement amount mentioned in subsection (1) is worked out using this method statement.
Method statement
Step 1. Add together:
(a) the sum of the payments of * money, or * digital currency, (if any) that are included in the * managing operator's payment or supply; and
(b) the * GST inclusive market value of the supplies (if any) that are included in the * managing operator's payment or supply (other than supplies that would have been * taxable supplies but for section 78 - 25 or 79 - 60).
Step 2. If, in relation to the * managing operator's payment or supply, any payments of an excess were made to the * managing operator, subtract from the step 1 amount the sum of all those payments (except to the extent that they are payments of excess to which section 78 - 18 or 79 - 55 applies).
Example: Assume the same facts as in the examples in sections 80 - 20 and 80 - 25. Assume also that, as a result of section 80 - 20, there was a decreasing adjustment under Division 78 or 79 for the managing operator's payment or supply.
The managing operator has an increasing adjustment. It equals the part of the decreasing adjustment that is attributable to the managing operator's payment or supply that was repaid by the contributing operator's contribution.