SALES TAX ASSESSMENT ACT 1992 (Repealed)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SECTION 16 (Repealed by 101 of 2006)   GENERAL RULES FOR TAXING ASSESSABLE DEALINGS  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.