Original supply cost and original acquisition cost—meaning
58E Original supply cost and original acquisition cost—meaning
The original supply cost of a ticket is the amount for which the ticket was sold to the first purchaser by an authorised seller.
The original acquisition cost of a ticket is the original supply cost of the ticket, plus the transaction cost.
The transaction cost is the cost (not exceeding 10% of the original supply cost) of any commission, booking fee, payment surcharge or ticket delivery fee incurred by the first purchaser of the ticket in connection with the purchase of the ticket.
If no amount was paid by the first purchaser of the ticket in consideration for the acquisition of the ticket, the original supply cost and the original acquisition cost are each $0.
This Act’s bill:Explanatory memorandum
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