SALES TAX ASSESSMENT ACT 1992 [Repealed]

PART 3 - LIABILITY TO TAX

Division 1 - General rules for taxability

Subdivision A - Taxing assessable dealings

SECTION 16 [Repealed by 101 of 2006]   GENERAL RULES FOR TAXING ASSESSABLE DEALINGS  

16(1)  [Assessable dealings listed in Table 1]  

Table 1 sets out all the assessable dealings that can be subject to sales tax.

16(2)  [Assessable dealing where no exemption applies]  

If the time of an assessable dealing (as specified in column 4 of the Table) is on or after the first taxing day, and no exemption applies under Division 2 of this Part, then:

(a)  the dealing is a taxable dealing;

(b)  the person specified in column 3 is the person liable to the tax;

(c)  the tax becomes payable at the time of the dealing, as specified in column 4;

(d)  the tax is due for payment at the time that applies under Division 2 of Part 5.

Note:

Generally, no sales tax is payable on an assessable dealing if the time of the dealing (as specified in column 4 of Table 1) is after the commencement of the A New Tax System (End of Sales Tax) Act 1999.

16(3)  [Calculation of amount of tax]  

To calculate the amount of the tax:

(a)  determine the taxable value of the dealing under Division 3 of this Part;

(b)  deduct any exempt part of the taxable value that applies under Division 4 of this Part;

(c)  multiply the result by the rate that applies under the Exemptions and Classifications Act.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.