A New Tax System (Indirect Tax and Consequential Amendments) Act 1999 (176 of 1999)
Schedule 8
Income Tax Assessment Act 1936
22 Section 38
Omit all the words from and including "sale price of the goods", substitute:
sale price of the goods:
(a) the amount for which, at the date the goods were shipped to Australia, goods of the same nature and quality could be purchased by a wholesale buyer in the country of manufacture; and
(b) the expenses incurred in transporting them to and selling them in Australia; and
(c) if the sale is a taxable supply - an amount equal to the net GST payable on the supply.
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