5Sale value

5 Sale value

(1) The sale value of goods deemed to be sold by a taxpayer is the amount that, in the opinion of the Commissioner, is the value of the amount of royalty paid by the taxpayer in respect of the goods, less any part of that amount of royalty taken into account in determining the sale value of the goods under an Act providing for the assessment of sales tax. (2) The amount that would, apart from this subsection, be the sale value of goods (not being a microchip) for the purposes of subsection (1) is to be reduced by so much (if any) of that amount as is attributable to: (a) computer programs (not being computer programs embodied in microchips) embodied in the goods; or (b) except where the only computer programs embodied in the goods are embodied in microchips—any other part of the goods the sale value of which would, if sold separately, be exempt from sales tax under item 51 of the First Schedule to the Sales Tax (Exemptions and Classifications) Act 1935.