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-C - Administrative matters  

48-73   Tax periods of GST groups with incapacitated members  

(1)  
If a *member of a *GST group becomes an *incapacitated entity , the *representative member of that group may, by notifying the Commissioner in the *approved form , elect for the tax period that applies at the time to the members of the group to end at the same time as the incapacitated entity ' s tax period ends under subsection 27-39(1) .

Note 1:

Section 31-10 provides for when a GST return must be given to the Commissioner for a tax period other than a quarterly tax period.

Note 2:

If the representative member does not make an election under this section when a member of the group becomes an incapacitated entity, the member ' s membership of the group may cease if, because of section 27-39 , the tax periods applying to it are not the same as those applying to the other members of the group.

(1A)  


If an entity ceases to be the *representative member of a *GST group as a result of becoming an *incapacitated entity , the entity may make an election under subsection (1), in relation to becoming an incapacitated entity, as if the entity were still the representative member of the group.

(1B)  


A notice under subsection (1) must be given to the Commissioner within 21 days after the *member becomes an *incapacitated entity .

(2)  
If a tax period (the first tax period ) ends on a particular day because of subsection (1), the next tax period starts on the day after that day and ends when the first tax period would have ended but for that subsection.

(3)  
This section has effect despite Division 27 (which is about how to work out the tax periods that apply).


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.