Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 29.45

  (1)   The Commissioner may permit you to * account on a cash basis if:

  (a)   you apply to the Commissioner in the * approved form for permission to account on a cash basis; and

  (b)   the Commissioner is satisfied that, having regard to:

  (i)   the nature and size of the * enterprise that you * carry on; and

  (ii)   the nature of the accounting system that you use;

    it is appropriate to permit you to account on a cash basis.

Note:   Refusing to permit you to account on a cash basis is a reviewable GST decision (see Subdivision   110 - F in Schedule   1 to the Taxation Administration Act 1953 ).

  (2)   The Commissioner must notify you in writing of any decision he or she makes in relation to you under this section. If the Commissioner decides to permit you to * account on a cash basis, the notice must specify the date of effect of your permission.

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