CTHRepealedLegislation
A New Tax System (Goods and Services Tax) Act 1999 Rules for Applying Subdivision 66-B Determination (No.31) 2015
Acquisitions of second-hand goods to whiAcquisitions of second-hand goods to which Subdivision 66-B applies under this determination
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Acquisitions of second-hand goods to which Subdivision 66-B applies under this determination
- Subdivision 66-B will apply to acquisitions of second-hand goods of a kind specified in Clause 6, other than those acquisitions excluded from this determination by Clause 5, to the extent that the entity chooses that the acquisitions will be covered by Subdivision 66-B, providing:
(g) the input tax credit attributable to the acquisition is added to the entity’s total Subdivision 66-B credit amount; and
(h) the GST payable on the subsequent supply of the goods is calculated in accordance with sections 66-45 and 66-50 of the Act.
Definitions
- The following expression is defined for the purposes of this determination:
The Act means the A New Tax System (Goods and Services Tax) Act 1999.
Other expressions in this determination have the same meaning as in the Act.