A New Tax System (Goods and Services Tax) Act - Australia

Скачать книгу

if the regulations change the tax period turnover threshold, the change does not apply to you until the start of the next tax period that starts after the regulation in question comes into operation.

      27–20 Withdrawing elections of one month tax periods

      (1) You may, by notifying the Commissioner in the *approved form, withdraw an election under section 27–10, unless your *GST turnover meets the *tax period turnover threshold.

      (2) The withdrawal takes effect on the day specified in the notice. However, the day specified:

      (a) must be 1 January, 1 April, 1 July or 1 October, or any day occurring before the election takes effect; and

      (b) must not be a day occurring earlier than 12 months after the election took effect.

      27–22 Revoking elections of one month tax periods

      (1) The Commissioner may, if you so request in the *approved form, revoke your election under section 27–10, with effect from a day occurring earlier than 12 months after the election took effect, unless the Commissioner is satisfied that your *GST turnover meets the *tax period turnover threshold.

      Note: Refusing to revoke your election under this subsection is a reviewable GST decision (see Subdivision 110-F in Schedule 1 to the Taxation Administration Act 1953).

      (2) In considering your request, the Commissioner may have regard to:

      (a) for how long the tax periods applying to you have been each individual month; and

      (b) whether you have previously been *registered, and whether such tax periods had applied to you; and

      (c) any other relevant matters.

      (3) The revocation:

      (a) takes effect on the day specified in the instrument of revocation; or

      (b) is taken to have had effect from a past day specified in the instrument of revocation.

      However, the day specified must be 1 January, 1 April, 1 July or 1 October.

      Note: Deciding the date of effect of the revocation is a reviewable decision (see Subdivision 110-F in Schedule 1 to the Taxation Administration Act 1953).

      27–25 Revoking determinations of one month tax periods

      (1) The Commissioner must revoke a determination under section 27–15 relating to you if you so request, unless the Commissioner is satisfied that any of the grounds for making a determination under that section apply to you.

      Note: Refusing to revoke a determination under this section is a reviewable GST decision (see Subdivision 110-F in Schedule 1 to the Taxation Administration Act 1953).

      (2) The revocation takes effect on the day specified in the instrument of revocation. However, the day specified:

      (a) must be 1 January, 1 April, 1 July or 1 October; and

      (b) must not be a day occurring earlier than 12 months after the determination took effect.

      Note: Deciding the date of effect of the revocation is a reviewable GST decision (see Subdivision 110-F in Schedule 1 to the Taxation Administration Act 1953).

      27–30 Tax periods determined by the Commissioner to take account of changes in tax periods

      (1) For the purpose of ensuring the effective operation of this Division where:

      (a) you become *registered or *required to be registered; or

      (b) the tax periods applying to you have changed;

      the Commissioner may, by written notice given to you, determine that a period specified in the notice is a tax period that applies to you.

      Note: Determining under this section a tax period applying to you is a reviewable GST decision (see Subdivision 110-F in Schedule 1 to the Taxation Administration Act 1953).

      (2) The period specified in the notice may start earlier than the day on which the notice is given to you.

      (3) However, the period specified in the notice:

      (a) must be less than 3 months; and

      (b) must not overlap with any part of any other tax period for which you have already given a *GST return to the Commissioner.

      For the giving of GST returns to the Commissioner, see Division 31.

      27–35 Changing the days on which your tax periods end

      (1) You may change the day in each year on which a tax period would otherwise end. However:

      (a) the day must be no more than 7 days earlier or 7 days later than a day on which one of the tax periods that applies to you would otherwise end if the days were not changed; and

      (b) the change must be consistent with the commercial accounting periods that apply to you.

      (2) If the day on which a tax period ends is changed, the next tax period starts on the day after that day.

      27–37 Special determination of tax periods on request

      (1) The Commissioner may, in accordance with a request you make in the *approved form, determine the tax periods applying to you to be the tax periods specified in the request if the Commissioner is satisfied that:

      (a) your *GST turnover meets the *tax period turnover threshold; and

      (b) the tax periods specified in the request are consistent with the commercial accounting periods that apply to you; and

      (c) the tax periods specified in the request would, if determined under this section, result in 12 complete tax periods in each year; and

      (d) any other requirements specified in the regulations are complied with.

      Note: Refusing a request for a determination under this section is a reviewable GST decision (see Subdivision 110-F in Schedule 1 to the Taxation Administration Act 1953).

      (2) A determination under this section overrides any determination under section 27–15 or 27–30 relating to tax periods applying to you.

      27–38 Revoking special determination of tax periods

      (1) The Commissioner must revoke a determination under section 27–37 if the Commissioner is satisfied that any of the requirements of paragraphs 27–37(1)(a), (b), (c) and (d) are not complied with.

      Note: Revoking a determination under this section is a reviewable GST decision (see Subdivision 110-F in Schedule 1 to the Taxation Administration Act 1953).

      (2) The revocation takes effect on the day specified in the instrument of revocation. However, the day specified must be 1 January, 1 April, 1 July or 1 October.

      Note: Deciding the date of effect of the revocation is a reviewable GST decision (see Subdivision 110-F in Schedule 1 to the Taxation Administration Act 1953).

      (3) A revocation under this section revives any election under section 27–10, or any determination under section 27–15 or 27–30, relating to tax periods applying to you.

      27–39 Tax periods of incapacitated entities

      (1) If an entity becomes an *incapacitated entity, the entity’s tax period at the time is taken to have ended at the end of the day before the entity became incapacitated.

      (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.

      27–40 An entity’s concluding tax period

      (1) If:

      (a) an individual dies; or

      (b) another entity for any reason ceases to exist;

Скачать книгу