A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  


The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.

Division 66 - Second-hand goods  

Subdivision 66-B - Acquisitions of second-hand goods that are divided for re-supply  

66-45   Future re-supplies that are not taxable supplies  

A supply you make is not a * taxable supply if:

(a) it is a supply of goods that were part of an acquisition you made that was an acquisition of * second-hand goods to which this Subdivision applied; and

(b) your * total Subdivision 66-B credit amount is more than your * total Subdivision 66-B GST amount ; and

(c) what would be the amount of GST payable on the supply, if the supply were a taxable supply, is less than or equal to the difference between:

(i) your * total Subdivision 66-B credit amount ; and

(ii) your * total Subdivision 66-B GST amount .

This section will not apply unless the record keeping requirements of section 66-55 are met.

This section has effect despite section 9-5 (which is about what are taxable supplies).

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