Document ID: chunk:federal_register_of_legislation:F2017L01274:body:0:p6
Version: federal_register_of_legislation:F2017L01274
Segment Type: other
Provision Reference: 
Character Range: 13546–16403

some sales of cooked fish and chips. It does not include a retailer that mainly sells cooked fish and chips with only a small amount of fresh seafood sales.

GST-free trading sales means trading sales that you make that are GST-free under Division 38 of the GST Act.

GST-free trading acquisitions means trading stock acquisitions that you make that are GST-free under Division 38 of the GST Act.

Hot bread shop means a retailer that mainly sells bread as opposed to cakes.

Health food shop means a retailer that mainly sells food, food supplements, vitamins and other heath food products. The retailer must not be a converter.

Non PBS prescription means a prescription of a drug or medicinal preparation that is not a pharmaceutical benefit within the meaning of Part VII of the National Health Act 1953.

PBS prescription means a prescription of a drug or medicinal preparation that is a pharmaceutical benefit within the meaning of Part VII of the National Health Act 1953.

Pharmacy means a retailer that
  (a)   has PBS prescription sales; and
  (b)   has non PBS prescription sales and over-the-counter sales, including food sales; and
  (c)    does not have adequate point-of-sale equipment to identify and record the sales that are subject to GST and are GST-free, even when the prescription dispensary system (in conjunction with the shop front point-of-sale equipment) can identify and record the PBS prescription sales and non PBS prescription sales.

Reseller means a retailer that makes GST-free trading acquisitions and resells it in an unchanged form, for example, bread and sandwich ingredients. It does not include a retailer that converts the stock into taxable supplies (for example, a retailer that converts bread and sandwich ingredients into sandwiches).

Rural convenience store means a convenience store that sells fuel but does not
   (a)   sell alcoholic beverages; and
   (b)   have adequate point-of-sale equipment, even if the retailer has adequate point-of-sale equipment to identify and record trading sales for fuel and the retailer's Australia Post agency business.

SAM turnover means either:
  (a)   the total GST-exclusive amount of the retailer's trading sales for the last financial year; or
  (b)   the projected GST-exclusive amount of the retailer's trading sales for the current financial year.
  (c)    However:
    (i)        if a retailer starts running its business part way through a financial year, then the retailer must make an estimate of its trading sales for a 12 month period commencing from when it started to run the business;
    (ii)      for the business norms method, if the retailer is a pharmacy –  the SAM turnover does not include PBS prescription sales; or
    (iii)     for the business norms method, if the retailer is a rural convenience store, the SAM turnover does not include trading