SALES TAX ASSESSMENT ACT 1992 (Repealed)

PART 3 - LIABILITY TO TAX

Division 3 - Taxable value

Subdivision C - Substitute taxable value in special cases

SECTION 42 (Repealed by 101 of 2006)   TAXABLE DEALING WITH GOODS IMPORTED AFTER BEING EXPORTED FOR ALTERATION  

42(1)  [Application]  

Subject to section 42AA, this section applies to any taxable dealing with goods that have been imported after having been exported for alteration as described in section 9.

42(2)  [Taxable value where customs duty paid or payable]  

If customs duty has or will become payable on the importation, and that duty is calculated solely by reference to the customs value of the alterations, the taxable value is:

   Customs value of the  +   Customs duty on the
      alterations                importation
          

42(3)  [Alternative taxable value]  

If customs duty has or will become payable on the importation, but subsection (2) does not apply, the taxable value is:

Notional      { Customs        Notional customs value }
customs       { duty               of the alterations }
value    +    { on        x   ----------------------- }
of the        { the            Value of the goods for }
alterations   { importation        the purposes of    }
              {                    calculating the    }
              {                 customs duty on the   }
              {                     importation       }


          

42(4)  [Taxable value where customs duty not paid or payable]  

If customs duty has not, and will not, become payable on the importation, the taxable value is the amount that would have been the taxable value under subsection (2) if customs duty had become payable on the importation and had been calculated solely by reference to the value of the alterations.

42(5)  [``Notional customs value of the alterations'']  

In this section:

``notional customs value of the alterations'' means the amount that would have been the customs value of the alterations for the purposes of calculating duty if the duty had been calculated solely by reference to the value of the alterations.