Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 151.25

General rule

  (1)   Your election ceases to have effect if:

  (a)   you revoke it by notifying the Commissioner in the * approved form; or

  (b)   the Commissioner disallows it under subsection   (3); or

  (c)   on 31   July in a * financial year, you are * required to be registered.

Your election also ceases to have effect at the end of your tax period under subsection   27 - 39(1), at the end of your concluding tax period under section   27 - 40, or at the end of a tax period applying to you to which subsection   151 - 55(1) applies.

Revocation

  (2)   A revocation of your election is taken to have had, or has, effect:

  (a)   if you notify the Commissioner on or before 28   October in a financial year--from the start of that * financial year; or

  (b)   if you notify the Commissioner after 28   October in a financial year--from the start of the next financial year.

Disallowance

  (3)   The Commissioner may disallow your election if, and only if, the Commissioner is satisfied that you have failed to comply with one or more of your obligations under a * taxation law.

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

  (4)   A disallowance of your election is taken to have had effect:

  (a)   if the Commissioner notifies you of the disallowance during the * financial year in which your election first took effect--from the start of the tax period in which it first took effect; or

  (b)   if the Commissioner notifies you of the disallowance on or before 28   October during a later financial year--from the start of that later financial year; or

  (c)   if the Commissioner notifies you of the disallowance after 28   October during a later financial year--from the start of the financial year immediately following that later financial year.

Becoming subject to a requirement to register

  (5)   If paragraph   (1)(c) applies, your election is taken to have ceased to have effect from the start of the * financial year referred to in that paragraph.