66‑40 Acquisitions of second‑hand goods

66‑40 Acquisitions of second‑hand goods that can be used to offset GST on future re‑supplies

(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).