Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 27.22

  (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 ).