Document ID: chunk:federal_register_of_legislation:F2015L01575:body:0:p1
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Legislative Instrument

Goods and Services Tax: Rules for Applying Subdivision 66-B Determination (No. 31) 2015

I, James O'Halloran, Deputy Commissioner of Taxation, make this determination under paragraph 66-70(1)(a) of the A New Tax System (Goods and Services Tax) Act 1999 I make the following determination:

James O'Halloran
Deputy Commissioner of Taxation

Dated: 15 September 2015

Name of Determination

     1. This determination is the A New Tax System (Goods and Services Tax) Act 1999 Rules for Applying Subdivision 66-B Determination (No.31) 2015.

Commencement

    2.      This determination commences on the day after registration.

Repeal of previous instrument

    3.      The following determination is repealed on the commencement of this determination:

           * A New Tax System (Goods and Services Tax) Rules for Applying Subdivision 66-B Determination (No. 1) 2000 (the previous instrument) - F2005B01877, registered on 26/07/2005 is repealed on the commencement of this determination.

Determination (Who is covered by this Determination)

    4.      This determination applies to:

           * an entity that was  determined in the previous instrument ; or

           * an entity that was not determined in the previous instrument, provided it satisfies all the requirements of this instrument.

    5.      This determination applies to entities that are registered for GST.

Application

    6.      This determination does not apply to second-hand goods that Subdivision 66-B already applies to, nor does it affect the operation of the Subdivision in relation to those goods.

    7.      This determination applies to second-hand goods of a kind specified in

    Clause 6 that a GST registered entity acquires for the purposes of sale or exchange (but not for manufacture) in the ordinary course of business.

    8.      This determination does not apply to second-hand goods of a kind specified in Clause 6 where:

         (a)               the consideration provided by the entity for the acquisition, is more than $1,000 and Subdivision 66-A would apply to the acquisition if this determination did not apply; or
         (b)               the supply of the goods to the entity was GST-free; or
         (c)               the supply of the goods to the entity was a supply by way of hire; or
         (d)               the entity has included, or will include, the amount of an input tax credit for the acquisition as part of its net amount for the purposes of section 17-5 or any other section of the Act; or
         (e)               the entity imported the goods, where the importation was not a taxable importation; or
         (f)                 the goods acquired or part of the goods acquired, other than by way of a taxable supply or a taxable importation, are subsequently supplied as a supply that is not a taxable supply.

Specified kinds of second-hand goods to which this determination applies

    9.      The following second-hand goods are the kind specified to which this determination applies:
         (a)