A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules

Part 4-3 - Special rules mainly about importations

Note:

The special rules in this Part mainly modify the operation of Part 2-3 , but they may affect other Parts of Chapter 2 in minor ways.

Division 117 - Valuation of re-imported goods

View history note

117-10 Valuation of taxable importations of live animals that were exported

View history reference

(1)
If there is a * taxable importation of a live animal that was exported, and the difference between:

(a) what would have been the value of the importation if this section did not apply; and

(b) what would have been the value of a taxable importation of the animal if it had been imported immediately before the time of the exportation;

is greater than zero, the value of the * taxable importation is an amount equal to that difference.

(2)
In any other case, the value of a * taxable importation of a live animal that was exported is nil.

(3)
However, this section does not apply if the ownership of the animal when it is imported is different from its ownership when it was last exported.

(4)
This section has effect despite subsection 13-20(2) (which is about the value of taxable importations).

View history note

History

S 117-10 inserted by No 156 of 2000, s 3 and Sch 2 item 9, applicable to importations into Australia on or after 1 July 2000.

S 117-10 repealed by No 176 of 1999, s 3 and Sch 1 item 110, effective 1 July 2000. S 117-10 formerly read:

(1)
The value of a repair or renovation of goods that have been *imported is the *customs value of the repair or renovation if:

(a) *customs duty has or will become payable on the importation; and

(b) that duty is calculated solely by reference to the customs value of the repair or renovation.

(2)
The value of a repair or renovation of goods that have been *imported is as follows if *customs duty has or will become payable on the importation and paragraph (1)(b) does not apply:

Notional
customs
value + *Customs duty × Notional customs value
*Customs value of the goods

where:

notional customs value
is the amount that would have been the *customs value of the repair or renovation if paragraph (1)(b) had applied.

(3)
If *customs duty has not, and will not, become payable on an *importation of goods, the value of a repair or renovation of the goods is the amount that would have been the *customs value of the repair or renovation if:

(a) customs duty had or would have become payable on the importation; and

(b) that duty were calculated solely by reference to the customs value of the repair or renovation.

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