Document ID: chunk:federal_register_of_legislation:F2017L01367:reg:6:p2
Version: federal_register_of_legislation:F2017L01367
Segment Type: reg
Provision Reference: reg 6 (pt 2/2)
Character Range: 4024–6672

from each photograph's metadata. A week later XYZ Pty Ltd sells the necklace to Teresa who is an Australian resident and is not registered for GST.

            XYZ Pty Ltd retains these photographs and also records the purchase and sale of the necklace as evidence. XYZ Pty Ltd ensures that it keeps records including:
                •                 the name, address and GST registration status of the seller of the necklace, Eloise;
                •                 the GST registration status and residency status of the purchaser of the necklace, Teresa; and
                •                 a description of and quantity of the goods.
            XYZ Pty Ltd has good record keeping practices and retains all necessary records of its dealings in second-hand goods, including the date of and consideration for all acquisitions of second-hand goods.

            The necklace satisfies the definition of incidental valuable metal goods because:
                •                 XYZ Pty Ltd has acquired the necklace from an unregistered entity (Eloise) for the purposes of sale or exchange (but not for manufacture) in the ordinary course of business; and
                •                 the necklace consists of valuable metal (as it is made of 18 carat gold); and
                •                 the 18 carat gold has been substantially transformed by a manufactured process and skilled craftsmanship to produce the necklace and is commercially distinct from a quantity of 18 carat gold as the necklace in its current condition would be expected to be sold as a necklace rather than as a quantity of gold; and
                •                 the purchaser of the necklace is an Australian consumer for the purposes of the GST law; and
                •                 XYZ Pty Ltd keeps a detailed date‑stamped photograph of the necklace which allows its physical characteristics to be identified clearly at the time of supply to Teresa; and
                •                 throughout the relevant period, XYZ Pty Ltd satisfies the requirements in paragraph 6(1)(g) of this Determination.

            XYZ Pty Ltd satisfies the requirements in paragraph 6(1)(g) of this Determination as the company:
                •                 is registered for GST; and
                •                 is licensed as a second-hand goods dealer in the States and Territories in which it operates – that is Tasmania; and
                •                 satisfies the record keeping obligations under subsections 29-10(3) and 29‑20(3) of the Act, as modified by section 66-17 of the Act for all second‑hand goods that it buys and sells.