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A NEW TAX SYSTEM (GOODS AND SERVICES TAX TRANSITION) ACT 1999No. 57, 1999 - SECT 18
Second-hand goods
(1) Division 66 of the GST Act applies to second-hand goods you acquired
before 1 July 2000 only if you held them at the start of that day for the
purposes of sale or exchange (but not for manufacture) in the ordinary course
of business.
(2) This section does not apply to second-hand goods in respect of which you
are entitled to a special credit under section 16.
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