Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 66.5

             (1)  If you acquire * second-hand goods for the purposes of sale or exchange (but not for manufacture) in the ordinary course of * business, the fact that the supply of the goods to you is not a * taxable supply does not stop the acquisition being a * creditable acquisition.

             (2)  However, this section does not apply, and is taken never to have applied, to the acquisition if:

                     (a)  the supply of the goods to you was a * taxable supply, or was * GST-free; or

                     (b)  you * imported the goods; or

                     (c)  the supply of the goods to you was a supply by way of hire; or

                     (d)  Subdivision 66-B applies to the acquisition; or

                     (e)  you make a supply of the goods that is not a taxable supply.

             (3)  This section has effect despite section 11-5 (which is about what is a creditable acquisition).