A New Tax System (Goods and Services Tax) Act 1999
Note:Division 66 - Second-hand goods Subdivision 66-B - Acquisitions of second-hand goods that are divided for re-supply
Your total Subdivision 66-B credit amount is the sum of the amounts of the input tax credits to which you would have been entitled, for all your acquisitions of * second-hand goods to which this Subdivision applied, if this Subdivision had not applied to them. (2)
Your total Subdivision 66-B GST amount is the sum of:
(a) all the amounts of GST that, but for the operation of section 66-45 , would have been payable on supplies that you made; and
(b) all the amounts by which GST payable on supplies that you made has been reduced under section 66-50 .
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.