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

Chapter 4 - The special rules  

Part 4-7 - Special rules mainly about returns, payments and refunds  

Note:

The special rules in this Part mainly modify the operation of Part 2-7 , but they may affect other Parts of Chapter 2 in minor ways.

Division 162 - Payment of GST by instalments  

Subdivision 162-A - Electing to pay GST by instalments  

162-5   Eligibility to elect to pay GST by instalments  

(1)  
You are eligible to elect to pay GST by instalments if:


(a) either:


(i) you are a * small business entity (other than because of subsection 328-110(4) of the * ITAA 1997 ) for the * income year in which you make your election; or

(ii) you do not carry on a * business and your * GST turnover does not exceed the * instalment turnover threshold ; and


(b) the current tax period applying to you is not affected by:


(i) an election under section 27-10 (election of one month tax periods); or

(ii) a determination under section 27-15 (determination of one month tax periods); or

(iii) a determination under section 27-37 (special determination of tax periods on request); and


(c) your * current GST lodgment record is at least 4 months; and


(d) you have complied with all your obligations to give * GST returns to the Commissioner; and


(e) you are not in a * net refund position ; and


(f) you are not a *limited registration entity.

(2)  
The instalment turnover threshold is:


(a) $2 million; or


(b) such higher amount as the regulations specify.

(3)  


You are in a net refund position if the sum of all your * assessed net amounts is less than zero, for the tax periods for which * GST returns fell due during the period referred to in the relevant item in the third column of this table.


When you are in a net refund position
Item If your *current GST lodgment record is ... Take into account this period to work out whether you are in a net refund position:
1 at least 13 months the 12 months preceding the current tax period applying to you
2 at least 10 months, but less than 13 months the 9 months preceding that current tax period
3 at least 7 months, but less than 10 months the 6 months preceding that current tax period
4 less than 7 months the 3 months preceding that current tax period

(4)  
(Repealed by No 39 of 2012)


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