CTHIn ForceAct
A New Tax System (Goods and Services Tax) Act 1999
//
© 2026 Zoe. All rights reserved.
Zoe is a legal information platform. Always consult the Federal Register of Legislation for authoritative text.
A New Tax System (Goods and Services Tax) Act 1999
Start here
Turn the raw legal text into a practical explanation grounded in A New Tax System (Goods and Services Tax) Act 1999.
(1) The amount of GST on a *taxable supply you make is reduced 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 amount were not reduced under this section, is more than 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) The amount by which the GST on the supply is reduced is an amount equal to the difference between: (a) your *total Subdivision 66‑B credit amount; and (b) your *total Subdivision 66‑B GST amount. (3) This section has effect despite section 9‑70 (which is about the amount of GST on taxable supplies).
Note: Section 9‑90 (rounding of amounts of GST) can apply to amounts of GST worked out using this section.