4Sale value of imported goods

4 Sale value of imported goods

(1) For the purposes of this Act, the sale value of imported goods that are entered for home consumption by: (a) an unregistered person; or (b) a registered person who does not quote his certificate in respect of the entry; shall be an amount equal to 120% of the sum of: (c) the customs value of the goods as determined in accordance with Division 2 of Part VIII of the Customs Act; and (d) the amount of customs duty (if any) that is, or may become, payable in respect of the goods. (2) Where, under section 36 or 37 of the Customs Act, an entry is given in respect of goods the customs value of which is required to be ascertained for the purposes of subsection (1), then, pending the ascertainment of that value for the purposes of that Act, the amount set out in that entry as the customs value shall be taken to be the customs value for the purposes of that subsection. (3) Notwithstanding subsection (1), where, at a particular time, imported goods are entered for home consumption (which entry is in this subsection referred to as the re‑importation), being goods that, prior to that time, had been exported from Australia for repair after having been entered for home consumption by an unregistered person or by a registered person who did not quote his certificate in respect of the entry of the goods (which entry is in this subsection referred to as the first entry ), then, unless by reason of section 6A or 6B sales tax was not payable on the sale value of the goods in respect of the first entry, the sale value of the goods in relation to the re‑importation is an amount equal to: (a) where an amount of customs duty has or will become payable in respect of the re‑importation and is, or is to be, calculated solely by reference to the value of the repairs—the sum of: (i) the value of the repairs for the purpose of calculating the amount of customs duty; and (ii) the amount of customs duty; (b) where an amount of customs duty (in this paragraph referred to as the duty) has or will become payable in respect of the re‑importation and is not, or will not be, calculated solely by reference to the value of the repairs—the sum of: (i) the amount (in this paragraph referred to as the repair value) that, in the opinion of the Commissioner, would have been the value of the repairs for the purpose of calculating an amount of customs duty payable in respect of the re‑importation if that last‑mentioned amount had been calculated solely by reference to the value of the repairs; and (ii) the amount ascertained in accordance with the formula:

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where:
A is the repair value;
B is the duty; and
C is the value of the goods for the purposes of calculating the duty; or
(c) where an amount of customs duty has not, and will not, become payable in respect of the re‑importation—the amount that, in the opinion of the Commissioner, would have been the value of the repairs for the purpose of calculating an amount of customs duty in respect of the re‑importation if customs duty had become payable in respect of the re‑importation and had been calculated solely by reference to the value of the repairs.