A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  

Note:

The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.

Division 69 - Non-deductible expenses  

Subdivision 69-B - Elections for GST purposes relating to meal entertainment and entertainment facilities  

69-40   When elections take effect  

(1)    
An election under this Subdivision is taken to have effect, or to have had effect, from the start of the tax period specified in the election.

(2)    
The tax period may be a future tax period or the current tax period. It cannot be a tax period that has already come to an end.