Commonwealth Numbered Acts

SALES TAX (EXEMPTIONS AND CLASSIFICATIONS) ACT 1992 No. 119, 1992 - SECT 4

4.(1) Schedule 1 has effect for the purposes of those parts of the Assessment
Act that refer to exemption Items. The Schedule does not by itself have the
effect of exempting an assessable dealing from sales tax.

(2) In broad terms, Schedule 1 has the following effects (through the
Assessment Act):

   (a)  if all the requirements of an exemption Item are satisfied at or
        before the time of an assessable dealing, the dealing is not taxable;
        (For details, see section 24 of the Assessment Act.)

   (b)  a non-lease AOU is not taxable if, at the time of AOU, the applier has
        the intention of satisfying the requirements of an exemption Item;
        (For details, see section 25 of the Assessment Act.)

   (c)  a lease AOU is not taxable if the lease is an eligible long-term lease
        (the intention of the lessee or a sub-lessee to satisfy the
        requirements of an exemption Item is relevant to deciding whether the
        lease is an eligible long-term lease); (For details, see section 26 of
        the Assessment Act.)

   (ca) a lease AOU may not be taxable if the lease is an eligible short-term
        lease because of an agreement with the Commissioner (the intention of
        lessees or sub-lessees to satisfy the requirements of exemption Items
        is relevant to deciding whether the agreement can be entered into);
        (For details, see sections 15A and 26 of the Assessment Act.)

   (d)  an intention to satisfy the requirements of an exemption Item can be a
        ground for quoting; (For details, see sections 82 and 83 of the
        Assessment Act.)

   (e)  credit entitlements are sometimes available for eligible long-term
        leases (the intention of the lessee to satisfy the requirements of an
        exemption Item is relevant to deciding whether the lease is an
        eligible long-term lease); (For details, see credit ground CR18 in
        Table 3 in Schedule 1 to the Assessment Act.)

   (f)  credit entitlements are sometimes available for leases that are
        eligible short-term leases because of an agreement with the
        Commissioner (the intention of lessees or sub-lessees to satisfy the
        requirements of exemption Items is relevant to deciding whether the
        agreement can be entered into). (For details, see credit ground CR18A
        in Table 3 in Schedule 1 to the Assessment Act.)