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

Chapter 2 - The basic rules  

Part 2-6 - Tax periods  

Division 29 - What is attributable to tax periods  

Subdivision 29-B - Accounting on a cash basis  

29-45   Permission to account on a cash basis  

(1)    
The Commissioner may permit you to * account on a cash basis if:

(a) you apply to the Commissioner in the * approved form for permission to account on a cash basis; and

(b) the Commissioner is satisfied that, having regard to:

(i) the nature and size of the * enterprise that you * carry on ; and

(ii) the nature of the accounting system that you use;

(iii) (Repealed by 176 of 1999)

it is appropriate to permit you to account on a cash basis.

Note:

Refusing to permit you to account on a cash basis is a reviewable GST decision (see Subdivision 110-F in Schedule 1 to the Taxation Administration Act 1953 ).

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History

S 29-45(1) amended by No 73 of 2006 , s 3 and Sch 5 item 84, by substituting " Subdivision 110-F in Schedule 1 to " for " Division 7 of Part VI of " in the note, effective 1 July 2006.

S 29-45(1) amended by No 176 of 1999, s 3 and Sch 1 items 40 and 41, by omitting ``and'' from subpara (b)(ii) and repealing subpara (b)(iii), effective 1 July 2000. Subpara (b)(iii) formerly read:

(iii) how you account for income tax purposes;

(2)    
The Commissioner must notify you in writing of any decision he or she makes in relation to you under this section. If the Commissioner decides to permit you to * account on a cash basis , the notice must specify the date of effect of your permission.

Note:

Deciding the date of effect of your permission to account on a cash basis is a reviewable GST decision (see Subdivision 110-F in Schedule 1 to the Taxation Administration Act 1953 ).

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History

S 29-45(2) amended by No 73 of 2006 , s 3 and Sch 5 item 85, by substituting " Subdivision 110-F in Schedule 1 to " for " Division 7 of Part VI of " in the note, effective 1 July 2006.

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