Lot 122: Fiona Ewan Rowett (SA born 1948) Watercolour, Abstract with Leaves, Signed & Dated '97, 39 x 47

23. GST
23.1 Interpretation
Words or expressions used in this clause 23 that are
defined in A New Tax System (Goods and Services Tax)
Act 1999 have the same meaning.
23.2 GST and amounts payable to the Company:
(a) All amounts owing by the Seller to the Company
(including, without limitation, the Seller's Commission,
the Offer Fee, the Insurance Fee, and Expenses) under
this agreement do not include GST. If and to the extent
that any amount owing by the Seller to the Company is
consideration for a taxable supply by the Company, the
amount shall be increased by an amount equal to the
GST payable by the Company on that supply.
(b) All amounts payable by the Buyer to the Company
under this agreement (including, without limitation, the
Premium) do not include GST. If and to the extent that
any amount payable by the Buyer to the Company is
consideration for a taxable supply by the Company, the
Buyer must pay to the Company, an additional amount
equal to the GST payable on the supply.
23.3 GST and amounts payable to the Seller
(a) The Seller must, on or before the date of the Sale,
notify the Company whether it is registered for GST,
and if so, must provide its ABN to the Seller at the same
time.
(b) If the Seller notifies the Company that it is
registered for GST in accordance with clause 23.3(a):
(i) the Seller authorises the Company as its agent, to
issue a tax invoice to the Buyer in respect of the Sale of
any Lot which is a taxable supply; and
(ii) on payment of the Sale Proceeds to the Seller in
accordance with clause 10, the Company will:
(A) notify the Seller of the amount of GST included
in the Sale Price for the Lot to enable the Seller to
determine its GST liability on the Sale; and
(B) give the Seller a tax invoice for any taxable
supply made by the Company to the Seller under this
agreement (including, without limitation, any supply
for which the Seller's Commission, the Offer Fee,
the Insurance Fee, and Expenses are consideration)
including any amounts payable on account of GST in
accordance with clause 23.2(a).
23.4 GST on sale of Lot to Buyer
(a) The Sale Price is inclusive of GST (if any) and shall
not be increased any further for any GST payable by the
Seller in respect of the Sale.
(b) If the Seller has informed the Company that it is
registered for GST in accordance with clause 23.3(a),
the Company will, upon request by the Buyer or
otherwise at its discretion, issue a tax invoice to the
Buyer showing:
(i) the amount of GST included in the Sale Price; and
(ii) any amounts payable by the Buyer to the Company
in consideration for any taxable supply made by the
Company to the Buyer under this agreement and any
GST payable on the supply in accordance with clause
23.2(b).
(c) If the Seller does not inform the Company that it
is registered for GST in accordance with clause 23.3(a),
the Sale will be presumed not to be a taxable supply,
and the Company will only issue a tax invoice for any
taxable supply made by the Company to the Buyer
under this agreement (including, without limitation, any
taxable supply for which the Premium is consideration
and any amounts payable on account of GST payable
on that supply in accordance with clause 23.2(b)).
(d) A Buyer of a Lot sold by a GST registered Seller
that is subsequently exported from Australia may be
able to claim a refund from the Company for any GST
included in the Sale Price of a Lot if, within 60 days of
the Sale, the Buyer provides the Company with:
(i) all relevant shipping documents confirming that
the goods have been exported from Australia; and
(ii) evidence to the reasonable satisfaction of the
Company that the Buyer is not registered or required
to be registered for GST in Australia.
However, the Company need not refund any GST
amount to the Buyer under this clause, unless and until
it receives a refund of this amount from the Seller.
23.5 Obligations of non-resident Sellers
(a) This clause 23.5 only applies to Sellers that are nonresidents
of Australia.
(b) The Seller must, on or before any Lot is imported
into Australia for Sale, notify the Company as to:
(i) whether the Seller will be selling the Lot in the
course of carrying on an enterprise; and
(ii) whether the Seller is registered for GST in Australia.
(c) The Seller acknowledges and agrees that the
Company has the right to deduct and retain from the
Sale Proceeds, an amount equal to any GST for which
the Company is or becomes liable to pay in respect
of the importation or Sale of a Lot, including, without
limitation, any GST payable pursuant to Division 57 of
the GST Act.
23.6 Reimbursements (net down)
If a payment to a party under this agreement is a
reimbursement or indemnification, calculated by
reference to a loss, cost or expense incurred by that
party, then the payment will be reduced by the amount
of any input tax credit to which that party is entitled on
the acquisition of the taxable supply to which that loss,
cost or expense relates.

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