SALES TAX ASSESSMENT ACT 1992 (Repealed)

PART 7A - ADDITIONAL REQUIREMENTS FOR DEALINGS WITH CERTAIN GOODS

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History

Pt 7A (comprising s 91A to s 91ZF) inserted by No 16 of 1998, Sch 2 item 23, effective 16 April 1998. See also the history note for Div 3 and 4.

Division 4 - Withholding of sales tax on dealings with Part 7A goods

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History

Div 4 (comprising s 91W to s 91ZD) inserted by No 16 of 1998, Sch 2 item 23 and 25(3), applicable to dealings on or after 1 September 1998 (reg 8A of the Sales Tax Assessment Regulations).

SECTION 91Y (Repealed by 101 of 2006)   WORKING OUT THE WITHHOLDING AMOUNT  

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91Y(1)  [Payment for Part 7A goods only]  

The ``withholding amount'' for a payment that is made in respect of the purchase of Part 7A goods where the purchase involves only Part 7A goods and an invoice is given for the purchase is:

  [                                   ]    Amounts previously
  [ Schedule 4   Taxable value of the ]   withheld in respect
  [    rate    x    Part 7A goods     ] -    of those goods
      

91Y(2)  [Other payments]  

In any other case, the ``withholding amount'' for a payment that is made in respect of the purchase of Part 7A goods is:

  [              Notional wholesale ]    Amounts previously
  [ Schedule 4 x  selling price of  ] - withheld in respect
  [    rate       the Part 7A goods ]     of those goods
      

91Y(3)  [Interpretation]  

In this section:

``notional wholesale selling price'' has the same meaning as in Table 1 in Schedule 1.

``Schedule 4 rate'' is the rate of tax that applies to taxable dealings with goods covered by Schedule 4 to the Exemptions and Classifications Act.

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