Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) You are eligible to elect to pay GST by instalments if:
(a) either:
(i) you are a * small business entity (other than because of subsection 328 - 110(4) of the * ITAA 1997) for the * income year in which you make your election; or
(ii) you do not carry on a * business and your * GST turnover does not exceed the * instalment turnover threshold; and
(b) the current tax period applying to you is not affected by:
(i) an election under section 27 - 10 (election of one month tax periods); or
(ii) a determination under section 27 - 15 (determination of one month tax periods); or
(iii) a determination under section 27 - 37 (special determination of tax periods on request); and
(c) your * current GST lodgment record is at least 4 months; and
(d) you have complied with all your obligations to give * GST returns to the Commissioner; and
(e) you are not in a * net refund position; and
(f) you are not a * limited registration entity.
(2) The instalment turnover threshold is:
(a) $2 million; or
(b) such higher amount as the regulations specify.
(3) You are in a net refund position if the sum of all your * assessed net amounts is less than zero, for the tax periods for which * GST returns fell due during the period referred to in the relevant item in the third column of this table.
When you are in a net refund position | ||
Item | If your * current GST lodgment record is ... | Take into account this period to work out whether you are in a net refund position: |
1 | at least 13 months | the 12 months preceding the current tax period applying to you |
2 | at least 10 months, but less than 13 months | the 9 months preceding that current tax period |
3 | at least 7 months, but less than 10 months | the 6 months preceding that current tax period |
4 | less than 7 months | the 3 months preceding that current tax period |