Page 168 - ADVANCED TAXATION - Day 1 Slides
P. 168
Summary: = Input tax
Adjustments (s 18) = lower of cost/MV x 14/114 x %
non taxable use before adjustment
Input
s16(3)(h
≤ 100% taxable 0% taxable = Output tax )
supplies supplies = MV x 14/114 AND
≤ 100% taxable % lower taxable = Output tax
supplies supplies = lower of Cost/MV x 14/114 x %
change in taxable supplies
= Input tax
0% taxable ≤ 100% taxable = lower of Cost/MV x 14/114 x %
supplies supplies
taxable use
% taxable % higher taxable = Input tax
supplies supplies = lower of Cost/MV x 14/114 x %
change in taxable supplies
MV on date of change/MV on date of previous adjustment
