Chapter 4
-
The special rules
Part 4-6
-
Special rules mainly about tax periods
Note:
The special rules in this Part mainly modify the operation of
Part 2-6
, but they may affect other Parts of Chapter 2 in minor ways.
Division 151
-
Annual tax periods
History
Div 151 inserted by No 134 of 2004, s 3 and Sch 1 item 11, applicable in relation to net amounts for tax periods starting, or that started, on or after:
(a) for entities that, on 1 October 2004, had quarterly tax periods applying to them
-
1 October 2004; or
(b) for other entities
-
1 November 2004.
Subdivision 151-B
-
Consequences of electing to have annual tax periods
History
Subdiv 151-B inserted by No 134 of 2004, s 3 and Sch 1 item 11, applicable in relation to net amounts for tax periods starting, or that started, on or after:
(a) for entities that, on 1 October 2004, had quarterly tax periods applying to them
-
1 October 2004; or
(b) for other entities
-
1 November 2004.
151-50
When payments of assessed net amounts for annual tax periods must be made
(1)
If the *
assessed net amount
for an *
annual tax period
applying to you is greater than zero, you must pay the assessed net amount to the Commissioner on or before the day on which, under section
151-45
, you are required to give to the Commissioner your *GST return for the annual tax period.
History
S 151-50(1) amended by No 39 of 2012, s 3 and Sch 1 items 95 and 96, by substituting
"
*assessed net amount for
"
for
"
*net amount for
"
and
"
assessed net amount to
"
for
"
net amount to
"
, applicable in relation to payments and refunds that relate to tax periods, and fuel tax return periods, starting on or after 1 July 2012; and also in relation to payments and refunds that: (a) do not relate to any tax periods or fuel tax return periods; and (b) relate to liabilities or entitlements that arose on or after 1 July 2012.
(2)
This section has effect despite section
33-5
(which is about when payments of assessed net amounts must be made).
History
S 151-50(2) amended by No 39 of 2012, s 3 and Sch 1 item 97, by substituting
"
assessed net amounts
"
for
"
net amounts
"
, applicable in relation to payments and refunds that relate to tax periods, and fuel tax return periods, starting on or after 1 July 2012; and also in relation to payments and refunds that: (a) do not relate to any tax periods or fuel tax return periods; and (b) relate to liabilities or entitlements that arose on or after 1 July 2012.
S 151-50 inserted by No 134 of 2004, s 3 and Sch 1 item 11, applicable in relation to net amounts for tax periods starting, or that started, on or after:
(a) for entities that, on 1 October 2004, had quarterly tax periods applying to them
-
1 October 2004; or
(b) for other entities
-
1 November 2004.
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