A New Tax System (Goods and Services Tax) Act 1999
Note:
The special rules in this Part mainly modify the operation of Part 2-5 , but they may affect other Parts of Chapter 2 in minor ways.
Division 146 - Limited registration entities
View history note
Hide history noteYou are a limited registration entity for a tax period applying to you if an election under subsection (2) is in effect for you during the period.
Electing to be a limited registration entity
(2)
You may, by notifying the Commissioner in the *approved form, make an election under this subsection if you are a *non-resident who:
(a) makes, or intends to make, one or more supplies that are:
(i) *inbound intangible consumer supplies; or
(ii) *offshore supplies of low value goods that were, or would be, *connected with the indirect tax zone, solely because of Subdivision 84-C ; or
(b) is, or intends to become, a *redeliverer of *offshore supplies of low value goods.
When an election is in effect
(3)
The election:
(a) takes effect from the start of the tax period you nominate in the election; and
(b) if your *registration is cancelled and the date of effect of the cancellation occurs after the start of that tax period - ceases to have effect on the date of effect of the cancellation; and
(c) if paragraph (b) does not apply and, under subsection (5), you revoke the election - ceases to have effect at the start of your first tax period to start after the revocation.
(4)
However, the election never takes effect if your *registration is cancelled and the date of effect of the cancellation occurs on or before the start of the tax period you nominate in the election.
Revoking an election
(5)
You may, by notifying the Commissioner in the *approved form, revoke an election under subsection (2).
(6)
However, subsection (5) does not apply if you have been notified that the Commissioner has decided to cancel your *registration (whether or not the cancellation has already taken effect).
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
