INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
PART III
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LIABILITY TO TAXATION
Division 2
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Income
Subdivision C
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Business carried on partly in and partly out of Australia
SECTION 38
38
SALES BY MANUFACTURERS
Where goods manufactured out of Australia are imported into Australia and the goods are, either before or after importation, sold in Australia by the manufacturer of the goods, the profit deemed to be derived in Australia from the sale shall be ascertained by deducting from the sale price of the goods:
(a) the amount for which, at the date the goods were shipped to Australia, goods of the same nature and quality could be purchased by a wholesale buyer in the country of manufacture; and
(b) the expenses incurred in transporting them to and selling them in Australia; and
(c) if the sale is a taxable supply - an amount equal to the net GST payable on the supply.
Where goods manufactured out of Australia are imported into Australia and the goods are, either before or after importation, sold in Australia by the manufacturer of the goods, the profit deemed to be derived in Australia from the sale shall be ascertained by deducting from the sale price of the goods:
(a) the amount for which, at the date the goods were shipped to Australia, goods of the same nature and quality could be purchased by a wholesale buyer in the country of manufacture; and
(b) the expenses incurred in transporting them to and selling them in Australia; and
(c) if the sale is a taxable supply - an amount equal to the net GST payable on the supply.
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