Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If a branch of an entity ceases to be a * non - profit sub - entity, any * adjustment arising afterwards in relation to a supply, acquisition or importation, made by the branch while it was a non - profit sub - entity, is taken to be an adjustment that the entity has, as if the entity had made the supply, acquisition or importation.
(2) For the purpose of applying subsection (1) to an adjustment under Division 129 relating to a thing acquired or imported before the branch ceased to be a * non - profit sub - entity, that Division applies as if:
(a) the extent to which the acquisition or importation of the thing was for a * creditable purpose were the extent to which the entity acquired or imported it for a creditable purpose; and
(b) the extent to which the thing has been * applied for a creditable purpose since its acquisition or importation were the extent to which the entity applied it for a creditable purpose.