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

Chapter 4 - The special rules  

Part 4-4 - Special rules mainly about net amounts and adjustments  

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  

Subdivision 131-A - Electing to have annual apportionment  

131-10   Making an annual apportionment election  

(1)    
You 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 ).





This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.