SALES TAX ASSESSMENT ACT 1992 (Repealed)

S 42A substituted by No 94 of 1995, s 2 and Sch 3 item 3, effective 9 May 1995. S 42A formerly read:

42A(1) 

This section applies to a taxable dealing with goods covered by Item 1 in Schedule 6 to the Exemptions and Classifications Act, other than goods to which section 49 of this Act applies.

42A(2) 

If the goods are a motor vehicle that is a passenger motor vehicle for the purposes of heading 8703 in Schedule 3 to the Customs Tariff and that is covered by that heading (or that would be covered by that heading if it were imported), the taxable value is reduced by:

 43.242%  x  Motor vehicle depreciation limit for the
               financial year in which the taxable
                       dealing happens.
                

42A(3) 

If the goods are not covered by subsection (2), the taxable value is reduced by:

 35.787%  x  Motor vehicle depreciation limit for the
               financial year in which the taxable
                       dealing happens.
                

S 42A inserted by No 44 of 1993, s 4, effective 18 August 1993.