Commonwealth Consolidated Acts

TAX AND SUPERANNUATION LAWS AMENDMENT (2013 MEASURES NO. 2) ACT 2013 - SCHEDULE 3

A New Tax System (Goods and Services Tax) Act 1999

1   Paragraph 162 - 30(1)(d)

Repeal the paragraph.

2   Subsection   162 - 30(6)

Repeal the subsection.

3   At the end of subsection   162 - 135(1)

Add:

The amount must not be less than zero.

4   Subsection   162 - 140(4) (note)

Omit "Note", substitute "Note 1".

5   At the end of subsection   162 - 140(4)

Add:

Note 2:   Your estimated annual GST amount is taken to be zero if it would otherwise be less than zero (see subsection   ( 6)).

6   At the end of section   162 - 140

Add:

  (6)   Your estimated annual GST amount relating to the * GST instalment quarter is zero if, apart from this subsection, this estimate would be less than zero.

7   Section   195 - 1 (definition of estimated annual GST amount )

Omit "subsection   162 - 140(4) and paragraph   162 - 140(5)(b)", substitute "section   162 - 140".

8   Application of amendments

The amendments made by this Schedule apply in relation to GST instalment quarters starting on or after the first 1   July that is on or after the commencement of this Schedule.