INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 2 - Income  

Subdivision C - Business carried on partly in and partly out of Australia  

SECTION 39  

39   SALES BY MERCHANTS  
Where goods which are imported into Australia are, either before or after importation, sold in Australia by a person not being the manufacturer of the goods, the profit deemed to be derived in Australia from the sale shall be ascertained by deducting from the sale price of the goods:


(a) their purchase price; and


(b) the expenses incurred in transporting them to and selling them in Australia; and


(c) if the sale is a taxable supply - an amount equal to the net GST payable on the supply.


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