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

Chapter 4 - The special rules  

Part 4-1 - Special rules mainly about particular ways entities are organised  

Note:

The special rules in this Part mainly modify the operation of Part 2-2 so far as that Part deals with liability for GST and entitlement to input tax credits, but the special rules also affect other aspects of Part 2-2 and the other Parts of Chapter 2 .

Division 48 - GST groups  

Subdivision 48-A - Formation and membership of GST groups  

48-7   Membership of GST groups  

(1)  
A member of a *GST group is an entity that:


(a) formed the group under section 48-5 , or was added to the group under section 48-70 ; and


(b) *satisfies the membership requirements of the group.

(2)  
However, the entity is not a member of the *GST group if the entity has, since the last time the entity became such a member:


(a) left, or been removed from, the group under section 48-70 ; or


(b) ceased to *satisfy the membership requirements of the group.

(3)  
The *representative member of a *GST group must notify the Commissioner, in the *approved form , if a *member of the group no longer *satisfies the membership requirements for the GST group.

(4)  
The notice must be given within 21 days after the *member no longer *satisfies the membership requirements for the *GST group .

Note:

Section 286-75 in Schedule 1 to the Taxation Administration Act 1953 provides an administrative penalty for breach of this subsection.


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.