Taxation Laws Amendment Act (No. 8) 2000 (156 of 2000)

Schedule 2   Imports

A New Tax System (Luxury Car Tax) Act 1999

15   At the end of Division 7

Add:

7-20 Meaning of non-taxable re-importation

(1) An*importation of a*car is a non-taxable re-importation if:

(a) the car was exported from Australia and is returned to Australia, without having been subject to any treatment, industrial processing, repair, renovation, alteration or any other process since its export; and

(b) the importer:

(i) is the manufacturer of the car; or

(ii) has previously acquired the car, and the supply by means of which the importer acquired the goods was a*taxable supply of a luxury car; or

(iii) has previously imported the car, and the previous importation was a*taxable importation of a luxury car.

(2) An importation of a*car is a non-taxable re-importation if:

(a) the importer had manufactured, acquired or imported the car before 1 July 2000; and

(b) the car was exported from Australia before, on or after 1 July 2000; and

(c) the car is returned to Australia on or after 1 July 2000, without having been subject to any treatment, industrial processing, repair, renovation, alteration or any other process since its export; and

(d) the ownership of the car when it is returned to Australia is the same as its ownership on 1 July 2000.

Note: An importation covered by this section may also be duty-free under item 17 of Schedule 4 to theCustoms Tariff Act 1995.