Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 48.7

  (1)   A member of a * GST group is an entity that:

  (a)   formed the group under section   48 - 5, or was added to the group under section   48 - 70; and

  (b)   * satisfies the membership requirements of the group.

  (2)   However, the entity is not a member of the * GST group if the entity has, since the last time the entity became such a member:

  (a)   left, or been removed from, the group under section   48 - 70; or

  (b)   ceased to * satisfy the membership requirements of the group.

  (3)   The * representative member of a * GST group must notify the Commissioner, in the * approved form, if a * member of the group no longer * satisfies the membership requirements for the GST group.

  (4)   The notice must be given within 21 days after the * member no longer * satisfies the membership requirements for the * GST group.

Note:   Section   286 - 75 in Schedule   1 to the Taxation Administration Act 1953 provides an administrative penalty for breach of this subsection.