Tax Laws Amendment (Small Business) Act 2007 (80 of 2007)

Schedule 2   Amendments relating to GST turnover thresholds

Part 1   Main amendments

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

8   Subsection 29-40(1)

Omit “If”, substitute “You may choose to *account on a cash basis, with effect from the first day of the tax period that you choose, if”.