A New Tax System (Goods and Services Tax) Act 1999
Chapter 4
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The special rules
Part 4-6
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Special rules mainly about tax periods
Subdivision 151-A
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Electing to have annual tax periods
151-10
Making an annual tax period election
(1)
You may, by notifying the Commissioner in the * approved form , make an * annual tax period election if you are eligible under section 151-5 . (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:
The special rules in this Part mainly modify the operation of Part 2-6 , but they may affect other Parts of Chapter 2 in minor ways.
Division 151 - Annual tax periods
View history note
Hide history noteYou may, by notifying the Commissioner in the * approved form , make an * annual tax period election if you are eligible under section 151-5 . (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 ).
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