Treasury Laws Amendment (GST Integrity) Act 2017 (76 of 2017)

Schedule 1   GST and valuable metals

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

9   Section 195-1


incidental valuable metal goods means goods:

(a) acquired for the purposes of sale or exchange (but not for manufacture) in the ordinary course of *business; and

(b) that consist wholly or partly of *valuable metal; and

(c) in relation to which any of the following applies:

(i) the goods are collectables or antiques, and the goods are not *precious metals;

(ii) at the time of the acquisition, the market value of the goods exceeds the *valuable metal threshold;

(iii) the goods are in a class determined by the Minister, by legislative instrument, for the purposes of this subparagraph.