17‑2 Exemptions from the levy17‑2 Exemptions from the levy

17‑2 Exemptions from the levy

Goat fibre sold after export (1) Levy is not imposed on goat fibre that is sold after being exported from Australia. Threshold exemption (2) Levy is not imposed on goat fibre that is: (a) sold in a calendar year by the person who owns the goat fibre immediately after it is harvested; or (b) used in Australia by the person who owns the goat fibre immediately after it is harvested in a calendar year in the production of other goods; if the sum of the following is less than $50: (c) the total value of goat fibre sold by that person in that year; (d) the total value of goat fibre used by that person in that year in the production of other goods. (3) Subclause (2) does not apply to goat fibre covered by subclause (1). (4) The value of goat fibre is: (a) for goat fibre that is sold—the sale price of the goat fibre; or (b) for goat fibre that is used in the production of other goods—the market value of the goat fibre on the day the goat fibre begins to be used.

Note: Section 22 of the Act has the effect that the reference to the sale price of goat fibre is taken not to include the net GST.