the acquisition.
19–80 Increasing adjustments for acquisitions
If the *previously attributed input tax credit amount is greater than the *corrected input tax credit amount, you have an increasing adjustment equal to the difference between the previously attributed input tax credit amount and the corrected input tax credit amount.
19–85 Decreasing adjustments for acquisitions
If the *previously attributed input tax credit amount is less than the *corrected input tax credit amount, you have a decreasing adjustment equal to the difference between the corrected input tax credit amount and the previously attributed input tax credit amount.
19–99 Special rules relating to adjustment events
Chapter 4 contains special rules relating to *adjustment events in particular cases, as follows:
Checklist of special rules
Item
For this case…
See:
1AA
Compulsory third party schemes
Division 79
1A
GST religious groups
Division 49
1
Insurance
Division 78
2
Non-deductible expenses
Division 69
2A
Providing additional consideration under gross-up clauses
Division 133
3
Settlement sharing arrangements
Division 80
4
Third party payments
Division 134
Division 21—Bad debts
21-1 What this Division is about
If debts are written off as bad or are outstanding after 12 months, adjustments (for the purpose of working out net amounts) are made. They can arise both for amounts written off or outstanding and for recovery of amounts previously written off or outstanding.
Note: This Division does not apply to supplies and acquisitions that you account for on a cash basis (except in the limited circumstances referred to in Division 159).
21-5 Writing off bad debts (taxable supplies)
(1) You have a decreasing adjustment if:
(a) you made a *taxable supply; and
(b) the whole or part of the *consideration for the supply has not been received; and
(c) you write off as bad the whole or a part of the debt, or the whole or a part of the debt has been *overdue for 12 months or more.
The amount of the decreasing adjustment is 1/11of the amount written off, or 1/11 of the amount that has been overdue for 12 months or more, as the case requires.
(2) However, you cannot have an *adjustment under this section if you *account on a cash basis.
21–10 Recovering amounts previously written off (taxable supplies)
You have an increasing adjustment if:
(a) you made a *taxable supply in relation to which you had a *decreasing adjustment under section 21-5 for a debt; and
(b) you recover the whole or a part of the amount written off, or the whole or a part of the amount that has been *overdue for 12 months or more, as the case requires.
The amount of the increasing adjustment is 1/11of the amount recovered.
21–15 Bad debts written off (creditable acquisitions)
(1) You have an increasing adjustment if:
(a) you made a *creditable acquisition for *consideration; and
(b) the whole or part of the consideration is *overdue, but you have not provided the consideration overdue; and
(c) the supplier of the thing you acquired writes off as bad the whole or a part of the debt, or the whole or a part of the debt has been overdue for 12 months or more.
The amount of the increasing adjustment is 1/11of the amount written off, or 1/11 of the amount that has been overdue for 12 months or more, as the case requires.
(2) However, you cannot have an *adjustment under this section if you *account on a cash basis.
21–20 Recovering amounts previously written off (creditable acquisitions)
You have a decreasing adjustment if:
(a) you made a *creditable acquisition in relation to which you had an *increasing adjustment under section 21–15 for a debt; and
(b) you pay to the supplier of the thing you acquired the whole or a part of the amount written off, or the whole or a part of the amount that has been *overdue for 12 months or more, as the case requires.
The amount of the decreasing adjustment is 1/11of the amount recovered.
21–99 Special rules relating to adjustments for bad debts
Chapter 4 contains special rules relating to adjustments for bad debts, as follows:
Checklist of special rules
Item
For this case…
See:
1A
Bad debts relating to transactions that are not taxable or creditable to the fullest extent
Division 136
1
Changing your accounting basis
Division 159
2
Gambling
Division 126
2A
Representatives of incapacitated entities
Division 58
3
Sale of freehold interests etc.
Division 75
Part 2–5—Registration
Division 23—Who is required to be registered and who may be registered
23-1 Explanation of Division
This diagram shows when you are required to be, and when you may, be registered.
Note: This section is an explanatory section.
23-5 Who is required to be registered
You are required to be registered under this Act if:
(a) you are *carrying on an *enterprise; and
(b) your *GST turnover meets the *registration turnover threshold.
Note: It is the entity that carries on the enterprise that is required to be registered (and not the enterprise).
23–10 Who may be registered
(1) You may be *registered under this Act if you are carrying on an *enterprise (whether or not your *GST turnover