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

Chapter 2 - The basic rules  

Part 2-6 - Tax periods  

Division 27 - How to work out the tax periods that apply to you  

27-20   Withdrawing elections of one month tax periods  


You may, by notifying the Commissioner in the * approved form , withdraw an election under section 27-10 , unless your * GST turnover meets the * tax period turnover threshold .

The withdrawal takes effect on the day specified in the notice. However, the day specified:

(a) must be 1 January, 1 April, 1 July or 1 October, or any day occurring before the election takes effect; and

(b) must not be a day occurring earlier than 12 months after the election took effect.

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