Tax Laws Amendment (Small Business Measures) Act 2004 (134 of 2004)

Schedule 3   Payment of GST by instalments

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

5   Subsections 162-15(2), (3) and (4)

Repeal the subsections, substitute:

(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; 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 Division 7 of Part VI of the Taxation Administration Act 1953).