|
|
|
Amendment of section 87 of Principal Act (margin scheme - taxable dealers)
|
| |
57. The Principal Act is amended in section 87—
|
|
| |
(a) in subsection (1) by substituting the following definition for the definition of “means of transport”—
|
|
| |
“ ‘means of transport’ means—
|
|
| |
(a) motorised land vehicles with an engine cylinder capacity exceeding 48 cubic centimetres or a power exceeding 7.2 kilowatts, other than agricultural machinery, and
|
|
| |
(b) vessels exceeding 7.5 metres in length and aircraft with a take-off weight exceeding 1,550 kilogrammes, other than vessels and aircraft of the kind referred to in paragraph 4(2) of Schedule 2,
|
|
| |
which are intended for the transport of persons or goods, other than new means of transport supplied where section 24(1)(b) applies in relation to that supply;”,
|
|
| |
and
|
|
| |
(b) by inserting the following subsection after subsection (2) —
|
|
| |
“(2A) A taxable dealer shall not apply the margin scheme to a supply of a new means of transport where section 24(1)(b) applies in relation to that supply.”.
|
