A New Tax System (Goods and Services Tax) Act 1999
66‑5 Creditable acquisitions of second‑h66‑5 Creditable acquisitions of second‑hand goods
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66‑5 Creditable acquisitions of second‑hand goods
(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).