Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 66.40

  (1)   This Subdivision applies to an acquisition of * second - hand goods if:

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

  (b)   either the * consideration for the acquisition was more than $300 or you choose to have this section apply to the acquisition; and

  (c)   the goods are of such a kind, or they are supplied to you in such a way, that it would be reasonable to expect you to divide them before supplying them in 2 or more separate supplies; and

  (d)   you do not subsequently make a single supply of the entirety of the goods acquired.

  (2)   However, this Subdivision does not apply, and is taken never to have applied, to the acquisition if:

  (a)   the * consideration for the acquisition separately itemises the consideration for the different goods acquired, and your division of the goods before supplying them:

  (i)   corresponds to that itemisation; or

  (ii)   does not involve dividing the goods any further than the division indicated by that itemisation; or

  (b)   the supply of the goods to you was a * taxable supply, or was * GST - free; or

  (c)   you * imported the goods; or

  (d)   the supply of the goods to you was a supply by way of hire; or

  (e)   you make a supply of the goods, or of part of the goods, that is not a taxable supply (other than because of section   66 - 45).