Document ID: chunk:federal_register_of_legislation:C2022C00033:section:4:p10
Version: federal_register_of_legislation:C2022C00033
Segment Type: section
Provision Reference: s 4 (pt 10/29)
Character Range: 32374–34987

importer gives a security or undertaking to pay any customs duty, assessed GST and assessed luxury car tax relating to the importation.
 (1A) An amount of *assessed luxury car tax on a *taxable importation of a luxury car is not payable if:
 (a) a security or undertaking described in section 162A of the Customs Act 1901 has been given; and
 (b) the car is not dealt with in contravention of regulations made for the purposes of that section; and
 (c) one or more of the following applies:
 (i) the car is exported within the relevant period mentioned in paragraph 162A(5)(b) of that Act;
 (ii) if the car is goods described in subsection 162A(5A) of that Act—the goods are exported before the end of the relevant day mentioned in paragraph 162A(5A)(b) of that Act;
 (iii) one or more of the circumstances or conditions specified in the regulations mentioned in paragraph 162A(5)(b) of that Act apply in relation to the car.
Note: Section 162A of the Customs Act 1901 allows delivery of imported goods if the importer gives a security or undertaking to pay any customs duty, assessed GST and assessed luxury car tax relating to the importation.
 (2) This section has effect despite section 13‑20.

13‑30  Application of Division 165 of the GST Act
  Division 165 of the *GST Act applies to amounts payable under this Subdivision as if they were amounts payable under the GST Act.

Division 15—Adjustments

15‑1  What this Division is about
      Circumstances that occur after the supply or importation of a car may mean that too much or too little luxury car tax was imposed. Accordingly, adjustments are made to increase or decrease the net amount. Adjustments can be made by the supplier, the recipient or the importer, depending upon the circumstances.

Subdivision 15‑A—General adjustments

15‑5  Luxury car tax adjustment event
 (1) A luxury car tax adjustment event is any event which has the effect of:
 (a) cancelling a supply of a *luxury car; or
 (b) changing the *consideration for the supply; or
 (c) causing the supply to become, or stop being, a *taxable supply of a luxury car.
 (2) Without limiting subsection (1), these are *luxury car tax adjustment events:
 (a) the return to a supplier of a *car supplied (whether or not the return involves a change of ownership of the car);
 (b) a change to the previously agreed *consideration for a supply of a car, whether due to the offer of a discount or otherwise.
 (3) A *luxury car tax adjustment event can arise in relation to a supply of a *car even if it is not a *taxable supply of a luxury car.
 (4) However, the return of a *luxury car to its