DUTIES ACT 2001 - SECT 393A
Reassessment—noncomplying use by vehicle dealer
DUTIES ACT 2001 - SECT 393A
Reassessment—noncomplying use by vehicle dealer
393A Reassessment—noncomplying use by vehicle dealer
(1) This section
applies if—
(a) vehicle registration duty is not paid on an application to
register a vehicle in the name of a vehicle dealer, or to transfer a vehicle
to a vehicle dealer, on the basis of an exemption under section 389; and
(b)
the vehicle stops being trading stock, or stops being used as a demonstrator,
other than because of a sale of the vehicle in the ordinary course of
business.
(2) Within 28 days after the event mentioned in subsection (1) (b)
happens, the vehicle dealer must give notice in the approved form to the
commissioner.
Note—
Failure to give the notice is an offence under the
Administration Act , section 120 .
(3) The commissioner must make a
reassessment to impose vehicle registration duty on the application to
register or transfer the vehicle as if the exemption from duty had never
applied.
Note—
Unpaid tax interest and penalty tax may be payable under the
Administration Act , part 5 .
(4) For subsection (1) (b) , the vehicle is
taken to stop being trading stock, or stop being used as a demonstrator, on
the day that is the prescribed period after the registration or transfer
mentioned in subsection (1) (a) , unless the vehicle dealer sells the vehicle
in the ordinary course of business before that day.
(5) In this section—
"prescribed period" means the period, at least 1 year, prescribed under a
regulation for this section or, if no period is prescribed, 1 year.
