Taxation Laws Amendment Act (No. 3) 1994 (138 of 1994)

Part 4   AMENDMENT OF THE SALES TAX LAW

Division 4   Amendments to extend the periodic quoting provisions of the Sales Tax Assessment Act 1992

143   Periodic quoting

Section 85 of the Principal Act is amended:

(a) by omitting subsections (1) and (2) and substituting the following subsections:
          

"(1) A person ('the quoter') may make a periodic quote under this section for purchases that the quoter proposes to make from a person ('the supplier') during the period, not exceeding 12 months, covered by the periodic quote.

"(2) If the quoter is a registered person and makes such a periodic quote on or before the first day of the period to which the quote relates, the quoter is taken to have quoted a registration number for all purchases during the period from the supplier, other than purchases in respect of which the quoter has notified the supplier in accordance with subsection (3).

"(2A) If the quoter is an unregistered person and makes such a periodic quote on or before the first day of the period to which the quote relates, the quoter is taken to have quoted an exemption declaration for all purchases during the period from the supplier, other than purchases in respect of which the quoter has notified the supplier in accordance with subsection (3).";

(b) by omitting from subsection (3) "month" and substituting "period";
          

(c) by inserting in subsection (4) "or (2A)" after "(2)".