Tax Laws Amendment (Simplified GST Accounting) Act 2007 (112 of 2007)

Schedule 1   Amendments

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

5   Paragraphs 123-5(1)(a) and (b)

Repeal the paragraphs, substitute:

(a) specifies the kinds of *retailers to whom it is available and provides a method for working out *net amounts of retailers to whom the method applies; or

(b) specifies the kinds of *small enterprise entities to whom it is available and provides a method for working out *net amounts of small enterprise entities to whom the method applies.