Tax Laws Amendment (2009 Measures No. 5) Act 2009 (118 of 2009)

Schedule 1   GST and representatives of incapacitated entities

Part 3   Amendments commencing on Royal Assent

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

15   After section 27-38

Insert:

27-39 Tax periods of incapacitated entities

(1) If an entity becomes an *incapacitated entity, the entity's tax period at the time is taken to have ended at the end of the day before the entity became incapacitated.

(2) If a tax period (the first tax period ) ends on a particular day because of subsection (1), the next tax period starts on the day after that day and ends when the first tax period would have ended but for that subsection.