Tax Laws Amendment (2006 Measures No. 3) Act 2006 (80 of 2006)

Schedule 12   GST treatment of gift-deductible entities

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

2   Saving provision

 

(1) If:

(a) you made a choice under subsection 29-40(2) of the A New Tax System (Goods and Services Tax) Act 1999; and

(b) the choice was in force immediately before the start of the first tax period applying to you that is a tax period referred to in item 16 of this Schedule;

the choice continues in force after the start of that tax period as if it had been made under section 157-5 of that Act as amended by this Act.

      

(2) However, this item does not apply, and the choice ceases to be in force from the start of that tax period, if the choice could not have been made after the start of that tax period because of subsection 157-5(3) of that Act as amended by this Act.