A New Tax System (Goods and Services Tax) Act 1999
Note:
The special rules in this Part mainly modify the operation of Part 2-4 , but they may affect other Parts of Chapter 2 in minor ways.
Division 131 - Annual apportionment of creditable purpose
View history note
Hide history noteYou may make an *annual apportionment election if you are eligible under section 131-5 .
(2)
Your election takes effect from:
(a) the start of the earliest tax period for which, on the day on which you make your election, your * GST return is not yet due (taking into account any further period the Commissioner allows under paragraph 31-8(1)(b) or 31-10(1)(b) ); or
(b) the start of such other tax period as the Commissioner allows, in accordance with a request you make in the * approved form .
Note:
Refusing a request to allow your election to take effect from the start of another tax period is a reviewable GST decision (see Subdivision 110-F in Schedule 1 to the Taxation Administration Act 1953 ).
Act No 80 of 2007, s 3 and Sch 2 item 69, contained the following provision:
69 Transitional
-
election to have annual apportionment
(1)
This item applies to you if:
(a)
before 1 July 2007, you made an annual apportionment election under subsection 131-10(1) of the
A New Tax System (Goods and Services Tax) Act 1999
; and
(b)
your election was in effect immediately before 1 July 2007.
(2)
If you are carrying on a business on 1 July 2007, your election continues to have effect as if subparagraph 131-5(1)(a)(i) of the
A New Tax System (Goods and Services Tax) Act 1999
, as inserted by Part 1 of this Schedule, applied.
(3)
If you are not carrying on a business on 1 July 2007, your election continues to have effect as if subparagraph 131-5(1)(a)(ii) of the
A New Tax System (Goods and Services Tax) Act 1999
, as inserted by Part 1 of this Schedule, applied.
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