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

Chapter 4 - The special rules  

Part 4-4 - Special rules mainly about net amounts and adjustments  

Note:

The special rules in this Part mainly modify the operation of Part 2-4 , but they may affect other Parts of Chapter 2 in minor ways.

Division 131 - Annual apportionment of creditable purpose  

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History

Div 131 inserted by No 134 of 2004, s 3 and Sch 2 item 14, applicable in relation to net amounts for tax periods starting, or that started, on or after:

(a) for entities that, on 1 October 2004, had quarterly tax periods applying to them - 1 October 2004; or

(b) for other entities - 1 November 2004.

Subdivision 131-A - Electing to have annual apportionment  

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History

Subdiv 131-A inserted by No 134 of 2004, s 3 and Sch 2 item 14, applicable in relation to net amounts for tax periods starting, or that started, on or after:

(a) for entities that, on 1 October 2004, had quarterly tax periods applying to them - 1 October 2004; or

(b) for other entities - 1 November 2004.

131-15   Annual apportionment elections by representative members of GST groups  

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(1)    
A *representative member of a *GST group cannot make an *annual apportionment election unless each *member of the GST group is eligible under section 131-5 .

(2)    
If the *representative member makes such an election, or revokes such an election, each *member of the *GST group is taken to have made, or revoked, the election.

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History

S 131-15 inserted by No 134 of 2004, s 3 and Sch 2 item 14, applicable in relation to net amounts for tax periods starting, or that started, on or after:

(a) for entities that, on 1 October 2004, had quarterly tax periods applying to them - 1 October 2004; or

(b) for other entities - 1 November 2004.

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