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
34 After subsection 162-30(5)
Insert:
Failing to satisfy the requirements of subparagraph 162-5(1)(a)(ii)
(5A) If paragraph (1)(ca) applies, your election is taken to have ceased to have effect from the start of the *financial year referred to in that paragraph.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
