SALES TAX ASSESSMENT ACT 1992 [Repealed]

SCHEDULE 1

LTABLES

TABLES

LTABLE NUM=1

Table 1: Assessable dealings

Notes :
1. Table 1 does not apply to a dealing with goods unless the goods are assessable goods immediately before the time of the dealing, and are in Australia at the time of the dealing.
2. In Table 1:
``notional wholesale purchase price'' means the price (excluding sales tax) for which the taxpayer could reasonably have been expected to purchase the goods by wholesale under an arm's length transaction;
``notional wholesale selling price'' means the price (excluding sales tax) for which the taxpayer could reasonably have been expected to sell the goods by wholesale under an arm's length transaction.
3. The numbering of items in the Table uses the following pattern:
 
For Australian goods, the dealings are divided into 4 groups:
- wholesale sales begin with AD1
- retail sales begin with AD2
- an AOU begins with AD3
- miscellaneous dealings begin with AD4.
 
Imported goods have an additional class of local entry (AD10). The other dealings with imported goods have a number that is 10 higher than the broadly corresponding dealing with Australian goods. For example, AD12b for imported goods corresponds to AD2b for Australian goods.
LTABLE NUM=2

Table 2: Local entry of imported goods

*For amendments to this local entry, see history note at the end of the table.
Note :
1. If goods are deemed to be entered for home consumption under the Customs Act at a time before the goods are imported, the local entry of the goods is taken to occur immediately after the time of importation.
LTABLE NUM=3

Table 3: Credit grounds

* For amendments to this credit ground, see history note at the end of the table. LTABLE NUM=3a

Table 3A: Transitional credit grounds




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