A New Tax System (Goods and Services Tax) Act 1999
Chapter 4
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The special rules
Part 4-1
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Special rules mainly about particular ways entities are organised
The choice has effect from the time the entity makes the choice. (2)
The choice ceases to have effect if:
(a) the entity revokes the choice; or
(b) the entity ceases to meet the requirements of subsection 63-5(2) . (3)
However, the entity:
(a) cannot revoke the choice within 12 months after the day on which the entity made the choice; and
(b) cannot make a further choice within 12 months after the day on which the entity revoked a previous choice.
Note:
The special rules in this Part mainly modify the operation of Part 2-2 so far as that Part deals with liability for GST and entitlement to input tax credits, but the special rules also affect other aspects of Part 2-2 and the other Parts of Chapter 2 .
Division 63 - Non-profit sub-entities
63-10
Period for which a choice has effect
(1)
The choice has effect from the time the entity makes the choice. (2)
The choice ceases to have effect if:
(a) the entity revokes the choice; or
(b) the entity ceases to meet the requirements of subsection 63-5(2) . (3)
However, the entity:
(a) cannot revoke the choice within 12 months after the day on which the entity made the choice; and
(b) cannot make a further choice within 12 months after the day on which the entity revoked a previous choice.
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