S 84-140 repealed by No 77 of 2017, s 3 and Sch 1 item 42, effective 1 July 2017. For application provisions, see note under Div
heading. S 84-140 formerly read:
84-140 Limited registration entities
You are a
limited registration entity
for a tax period applying to you if an election under subsection (2) is in effect for you during the period.
Electing to be a limited registration entity
You may, by notifying the Commissioner in the *approved form, make an election under this subsection if:
you have made, or intend to make, one or more *inbound intangible consumer supplies; and
you are a *non-resident.
When an election is in effect
takes effect from the start of the tax period you nominate in the election; and
if your *registration is cancelled and the date of effect of the cancellation occurs after the start of that tax period
ceases to have effect on the date of effect of the cancellation; and
if paragraph (b) does not apply and, under subsection (5), you revoke the election
ceases to have effect at the start of your first tax period to start after the revocation.
However, the election never takes effect if your *registration is cancelled and the date of effect of the cancellation occurs on or before the start of the tax period you nominate in the election.
Revoking an election
You may, by notifying the Commissioner in the *approved form, revoke an election under subsection (2).
However, subsection (5) does not apply if you have been notified that the Commissioner has decided to cancel your *registration (whether or not the cancellation has already taken effect).
S 84-140 inserted by No 52 of 2016, s 3 and Sch 1 item 6, applicable in relation to working out net amounts for tax periods starting on or after 1 July 2017. See note under Subdiv