Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Your annual GST liability , for an * instalment tax period that is a * financial year, is the amount that would be your * net amount for the period if it were not reduced under section 162 - 105.
(2) Your annual GST liability , for an * instalment tax period that is only part of a * financial year, is the sum of:
(a) the amount that would be your * net amount for the period if it were not reduced under section 162 - 105; and
(b) your * early net amounts for the financial year (subtracting any of those amounts that are less than zero).
(3) Your early net amounts for the * financial year are your * assessed net amounts for any tax periods that:
(a) started, or would but for section 27 - 35 have started, at the start of or during that financial year; and
(b) ended before the start of the * instalment tax period applying to you that forms part of that financial year.
Note: Under section 27 - 35, the start or finish of a 3 month tax period could vary by up to 7 days from the start or finish of a normal quarter.