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

Chapter 4 - The special rules  

Part 4-3 - Special rules mainly about importations  


The special rules in this Part mainly modify the operation of Part 2-3 , but they may affect other Parts of Chapter 2 in minor ways.

Division 117 - Valuation of re-imported goods  

117-10   Valuation of taxable importations of live animals that were exported  

If there is a * taxable importation of a live animal that was exported, and the difference between:

(a) what would have been the value of the importation if this section did not apply; and

(b) what would have been the value of a taxable importation of the animal if it had been imported immediately before the time of the exportation;

is greater than zero, the value of the * taxable importation is an amount equal to that difference.

In any other case, the value of a * taxable importation of a live animal that was exported is nil.

However, this section does not apply if the ownership of the animal when it is imported is different from its ownership when it was last exported.

This section has effect despite subsection 13-20(2) (which is about the value of taxable importations).


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