Indirect Tax Legislation Amendment Act 2000 (92 of 2000)

Schedule 10   Alcoholic beverages

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

1A   After section 16A

Insert:

16AB Special GST credit for certain alcoholic beverages on which duty has decreased

(1) This section applies to goods if:

(a) you are entitled to a special credit under section 16 in respect of the goods; and

(b) they are goods mentioned in subsection 15A(1) (alcoholic beverages) of the Sales Tax (Exemptions and Classifications) Act 1992; and

(c) either:

(i) an amount of excise duty or customs duty (the old duty amount ) in respect of the goods was paid before 1 July 2000; or

(ii) the goods were delivered into home consumption before 1 July 2000 under a permission given under subsection 61C(1) of the Excise Act 1901 or granted under subsection 69(3) of the Customs Act 1901, and an amount of excise duty or customs duty (the old duty amount ) was or is payable in respect of the goods; and

(d) were excise duty or customs duty (whichever is applicable) instead to become payable on the goods immediately after 1 July 2000, the amount of that duty (the new duty amount ) would be less than the old duty amount.

(2) The amount of the special credit in respect of the goods is increased by an amount equal to the difference between the old duty amount and the new duty amount.