A New Tax System (Goods and Services Tax) Act 1999
66‑45 Future re‑supplies that are not ta66‑45 Future re‑supplies that are not taxable supplies
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66‑45 Future re‑supplies that are not taxable supplies
(1) A supply you make is not a *taxable supply if: (a) it is a supply of goods that were part of an acquisition you made that was an acquisition of *second‑hand goods to which this Subdivision applied; and (b) your *total Subdivision 66‑B credit amount is more than your *total Subdivision 66‑B GST amount; and (c) what would be the amount of GST payable on the supply, if the supply were a taxable supply, is less than or equal to the difference between: (i) your *total Subdivision 66‑B credit amount; and (ii) your *total Subdivision 66‑B GST amount.
Note: This section will not apply unless the record keeping requirements of section 66‑55 are met.
(2) This section has effect despite section 9‑5 (which is about what are taxable supplies).