Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) An amount of a * decreasing adjustment that arises under Division 129 or 132 of the * GST Act is assessable income , unless the entity that has the adjustment is an * exempt entity.
(2) However, the amount is not assessable income to the extent that, because it becomes a component of a * net input tax credit, a reduction is made under section 103 - 30 (reduction of cost base etc. by net input tax credits).