A New Tax System (Goods and Services Tax) Act 1999
Note:
The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.
Division 66 - Second-hand goods Subdivision 66-B - Acquisitions of second-hand goods that are divided for re-supply
View history note
Hide history noteYour total Subdivision 66-B credit amount is the sum of the amounts of the input tax credits to which you would have been entitled, for all your acquisitions of * second-hand goods to which this Subdivision applied, if this Subdivision had not applied to them.
(2)
Your total Subdivision 66-B GST amount is the sum of:
(a) all the amounts of GST that, but for the operation of section 66-45 , would have been payable on supplies that you made; and
(b) all the amounts by which GST payable on supplies that you made has been reduced under section 66-50 .
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