A New Tax System (Goods and Services Tax) Act 1999
Note:Division 131 - Annual apportionment of creditable purpose
You may make an *annual apportionment election if you are eligible under section 131-5 . (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 (taking into account any further period the Commissioner allows under paragraph 31-8(1)(b) or 31-10(1)(b) ); or
(b) the start of such other tax period as the Commissioner allows, in accordance with a request you make in the * approved form .
Refusing a request to allow your election to take effect from the start of another tax period is a reviewable GST decision (see Subdivision 110-F in Schedule 1 to the Taxation Administration Act 1953 ).
Act No 80 of 2007, s 3 and Sch 2 item 69, contained the following provision:
election to have annual apportionment
This item applies to you if:
(a) before 1 July 2007, you made an annual apportionment election under subsection 131-10(1) of the A New Tax System (Goods and Services Tax) Act 1999 ; and
(b) your election was in effect immediately before 1 July 2007.
If you are carrying on a business on 1 July 2007, your election continues to have effect as if subparagraph 131-5(1)(a)(i) of the A New Tax System (Goods and Services Tax) Act 1999 , as inserted by Part 1 of this Schedule, applied.
If you are not carrying on a business on 1 July 2007, your election continues to have effect as if subparagraph 131-5(1)(a)(ii) of the A New Tax System (Goods and Services Tax) Act 1999 , as inserted by Part 1 of this Schedule, applied.
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