A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 129.10 Adjustments do not arise under this Division for acquisitions and importations below a certain value

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 129.10

  (1)   Despite section   129 - 5, an adjustment cannot arise under this Division for an acquisition or importation that * relates to business finance, unless the acquisition or importation had a * GST exclusive value of more than $10,000.

  (2)   Despite section   129 - 5, an adjustment cannot arise under this Division for an acquisition or importation that does not * relate to business finance, unless the acquisition or importation had a * GST exclusive value of more than $1,000.

  (3)   An acquisition or importation relates to business finance if, at the time of the acquisition or importation, it:

  (a)   related solely or partly to making * financial supplies; and

  (b)   was not solely or partly of a private or domestic nature.