Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 66.5

  (1)   If you acquire * second - hand goods for the purposes of sale or exchange (but not for manufacture) in the ordinary course of * business, the fact that the supply of the goods to you is not a * taxable supply does not stop the acquisition being a * creditable acquisition.

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

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

  (b)   you * imported the goods; or

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

  (d)   Subdivision   66 - B applies to the acquisition; or

  (e)   you make a supply of the goods that is not a taxable supply.

  (3)   This section has effect despite section   11 - 5 (which is about what is a creditable acquisition).