SALES TAX ASSESSMENT ACT 1992 (Repealed)

PART 3 - LIABILITY TO TAX

Division 4 - Exempt parts of taxable value

SECTION 50A (Repealed by 101 of 2006)   AGREEMENTS RELATING TO ELIGIBLE SHORT-TERM LEASES  

50A(1)  [Exempt part of taxable value]  

If:

(a)  the dealing is the granting of an eligible short-term lease of the goods; and

(b)  the exempt percentage specified in the agreement under subsection 15A(2) is less than 100%;

then the exempt part is the taxable value multiplied by the exempt percentage.

50A(2)  [Goods to which reduction in taxable value applies]  

If:

(a)  the goods that are the subject of the taxable dealing are covered by an agreement under subsection 15A(3) or (4), and are for use exclusively as mentioned in that subsection; and

(b)  the exempt percentage specified in the agreement is less than 100%;

then the exempt part is the taxable value multiplied by the exempt percentage.