Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 13.20

             (1)  The amount of GST on the ^* taxable importation is 10% of the ^* value of the taxable importation.

             (2)  The value of a ^* taxable importation is the sum of:

                     (a)  the ^* customs value of the goods imported; and

                     (b)  the amount paid or payable:

                              (i)  for the ^* international transport of the goods to their ^* place of consignment in Australia; and

                             (ii)  to insure the goods for that transport;

                            to the extent that the amount is not already included under paragraph (a); and

                     (c)  any ^* customs duty payable in respect of the importation of the goods; and

                     (d)  any ^* wine tax payable in respect of the ^* local entry of the goods.

          (2A)  If an amount to be taken into account under paragraph (2)(b) is not an amount in Australian currency, the amount so taken into account is the equivalent in Australian currency of that amount, ascertained in the way provided in section 161J of the Customs Act 1901 .

             (3)  The Commissioner may, in writing:

                     (a)  determine the way in which the amount paid or payable for a specified kind of transport or insurance is to be worked out for the purposes of paragraph (2)(b); and

                     (b)  in relation to importations of a specified kind or importations to which specified circumstances apply, determine that the amount paid or payable for a specified kind of transport or insurance is taken, for the purposes of that paragraph, to be zero.