Document ID: chunk:federal_register_of_legislation:C2025C00126:section:5:p16
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 5 (pt 16/33)
Character Range: 570567–573204

specified percentage.

Market value of goods and valuable metal
 (2) For the purposes of subsection (1), the market value of goods or *valuable metal in goods:
 (a) is to be worked out disregarding any amount of GST:
 (i) that is payable on the supply of the goods or metal; or
 (ii) if there is no supply of valuable metal—that would be payable if there were a supply of valuable metal; and
 (b) either:
 (i) unless subparagraph (ii) applies—is the market value of the goods or metal within the ordinary meaning of the expression; or
 (ii) if the Commissioner has determined under subsection (3) one or more methods for working out the market value of goods or metal—the market value of the goods or metal worked out using any one of those methods.
 (3) The Commissioner may, by legislative instrument, determine one or more methods of working out the market value of goods or *valuable metal for the purposes of subparagraph (2)(b)(ii).

Specified percentage
 (4) For the purposes of subsection (1), the specified percentage is:
 (a) if the Minister determines a percentage under subsection (5)—that percentage; or
 (b) otherwise—10%.
 (5) The Minister may, by legislative instrument, determine a percentage for the purposes of paragraph (4)(a).

Effect of section
 (6) To avoid doubt, this section does not affect how goods that consist of goods that can be separately supplied are otherwise treated for the purposes of this Act.

86‑15  Recipients who are members of GST groups
 (1) If section 86‑5 applies to a *taxable supply but the *recipient of the supply is a *member of a *GST group, the GST on the supply:
 (a) is payable by the *representative member; and
 (b) is not payable by the member (unless the member is the representative member).
 (2) This section has effect despite sections 48‑40, 51‑30 and 86‑5 (which are about who is liable for GST).

86‑20  Recipients who are participants in GST joint ventures
 (1) If section 86‑5 applies to a *taxable supply but the *recipient of the supply is a *participant in a *GST joint venture and the supply is made, on the recipient's behalf, by the *joint venture operator of the GST joint venture in the course of activities for which the joint venture was entered into, the GST on the supply:
 (a) is payable by the joint venture operator; and
 (b) is not payable by the participant.
 (2) This section has effect despite sections 48‑40, 51‑30 and 86‑5 (which are about who is liable for GST).

86‑25  The amount of GST on "reverse charged" supplies of goods consisting of valuable metal
 (1) The amount of GST on a supply to which section 86‑5, 86‑15 or 86‑20 applies is 10% of