35Taxable dealing with goods that are the contents of a container

#### 35 Taxable dealing with goods that are the contents of a container (1) This section deals with situations in which a container is associated with goods (the contents) that are the subject of a taxable dealing. The aim of this section is to ensure that the taxable value will include a component for the container, even though the parties may have allocated a separate amount to the container. (2) If: (a) the taxable value of the dealing is calculated by reference to the price (excluding tax) for which the contents were sold; and (b) the parties have allocated a separate amount to the container; then the taxable value is increased by so much of the value of the container as is recouped by the seller in connection with the sale of the contents. (3) If the taxable value of the dealing is not calculated as mentioned in subsection (2), then the taxable value is increased by so much of the value of the container as could reasonably be expected to have been recouped by the taxpayer in connection with a hypothetical sale of the contents at the time of the actual taxable dealing with the contents. (4) This section does not apply if the container is a shipping container covered by exemption Item 60.