Document ID: chunk:federal_register_of_legislation:C2025C00126:section:7:p58
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 7 (pt 58/63)
Character Range: 386284–388856

on future re‑supplies
 (1) This Subdivision applies to an acquisition of *second‑hand goods if:
 (a) you acquire the goods for the purposes of sale or exchange (but not for manufacture) in the ordinary course of *business; and
 (b) either the *consideration for the acquisition was more than $300 or you choose to have this section apply to the acquisition; and
 (c) the goods are of such a kind, or they are supplied to you in such a way, that it would be reasonable to expect you to divide them before supplying them in 2 or more separate supplies; and
 (d) you do not subsequently make a single supply of the entirety of the goods acquired.
 (2) However, this Subdivision does not apply, and is taken never to have applied, to the acquisition if:
 (a) the *consideration for the acquisition separately itemises the consideration for the different goods acquired, and your division of the goods before supplying them:
 (i) corresponds to that itemisation; or
 (ii) does not involve dividing the goods any further than the division indicated by that itemisation; or
 (b) the supply of the goods to you was a *taxable supply, or was *GST‑free; or
 (c) you *imported the goods; or
 (d) the supply of the goods to you was a supply by way of hire; or
 (e) you make a supply of the goods, or of part of the goods, that is not a taxable supply (other than because of section 66‑45).

66‑45  Future re‑supplies that are not taxable supplies
 (1) A supply you make is not a *taxable supply if:
 (a) it is a supply of goods that were part of an acquisition you made that was an acquisition of *second‑hand goods to which this Subdivision applied; and
 (b) your *total Subdivision 66‑B credit amount is more than your *total Subdivision 66‑B GST amount; and
 (c) what would be the amount of GST payable on the supply, if the supply were a taxable supply, is less than or equal to the difference between:
 (i) your *total Subdivision 66‑B credit amount; and
 (ii) your *total Subdivision 66‑B GST amount.
Note: This section will not apply unless the record keeping requirements of section 66‑55 are met.
 (2) This section has effect despite section 9‑5 (which is about what are taxable supplies).

66‑50  Future re‑supplies on which GST is reduced
 (1) The amount of GST on a *taxable supply you make is reduced if:
 (a) it is a supply of goods that were part of an acquisition you made that was an acquisition of *second‑hand goods to which this Subdivision applied; and
 (b) your *total Subdivision 66‑B credit amount is more than your *total Subdivision 66‑B GST amount; and
 (c)