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This is a Bill, not an Act. For current law, see the Acts databases.
2002-2003-2004
The Parliament
of the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Indirect
Tax Legislation Amendment (Small Business Measures) Bill
2004
No. ,
2004
(Treasury)
A Bill
for an Act to amend the law relating to indirect taxation, and for related
purposes
Contents
A New Tax System (Goods and Services Tax) Act
1999 3
Taxation Administration Act
1953 10
A New Tax System (Goods and Services Tax) Act
1999 12
Taxation Administration Act
1953 22
A New Tax System (Goods and Services Tax) Act
1999 23
Taxation Administration Act
1953 24
A Bill for an Act to amend the law relating to indirect
taxation, and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the Indirect Tax Legislation Amendment (Small
Business Measures) Act 2004.
This Act commences on the day on which it receives the Royal
Assent.
Each Act that is specified in a Schedule to this Act is amended or
repealed as set out in the applicable items in the Schedule concerned, and any
other item in a Schedule to this Act has effect according to its
terms.
A New Tax System (Goods and
Services Tax) Act 1999
1 At the end of
section 27-5
Add:
Note: Several provisions in Chapter 4 provide for
different tax periods. In particular, Division 151 provides for annual tax
periods.
2 Section 27-99 (before table
item 1)
Insert:
|
1AAA |
Annual tax periods |
Division 151 |
3 Section 31-99 (before table
item 1)
Insert:
|
1A |
Annual tax periods |
Division 151 |
4 Section 33-99 (before table
item 1)
Insert:
|
1A |
Annual tax periods |
Division 151 |
5 Section 37-1 (before table
item 2)
Insert:
|
1B |
Annual tax periods |
Division 151 |
6 Before Division 153
Insert:
Table of Subdivisions
151-A Electing to have annual tax periods
151-B Consequences of electing to have annual tax periods
In some cases, you may elect to have annual tax periods. You will then
lodge GST returns, and pay amounts of GST or receive refunds of GST, on an
annual basis (which better matches your obligation to lodge an income tax
return).
(1) You are eligible to make an *annual
tax period election if:
(a) your *annual turnover does not meet
the *registration turnover threshold;
and
(b) you have not made any election under section 162-15 to pay GST by
instalments (other than such an election that is no longer in effect).
(2) However, you are not eligible to make an
*annual tax period election if you are required
to be registered whether or not your *annual
turnover meets the *registration turnover
threshold.
(1) You may, by notifying the Commissioner in the
*approved form, make an
*annual tax period election if you are eligible
under section 151-5.
(2) Your election takes effect from:
(a) the start of the earliest tax period for which, on the day on which
you make your election, your *GST return is not
yet due (taking into account any further period the Commissioner allows under
paragraph 31-8(1)(b) or 31-10(1)(b)); or
(b) the start of such other tax period as the Commissioner allows, in
accordance with a request you make in the
*approved form.
Note: Refusing a request to allow your election to take
effect from the start of another tax period is a reviewable GST decision (see
Division 7 of Part VI of the Taxation Administration Act
1953).
(1) A *representative member of a
*GST group cannot make an
*annual tax period election unless each
*member of the GST group is eligible under
section 151-5.
(2) If the *representative member makes
such an election, the *annual tax period
applying to the representative member also applies to each member.
(1) You must make your *annual tax period
election:
(a) if the tax periods applying to you are
*quarterly tax periods—on or before
28 October in the *financial year to which
it relates; or
(b) in any other case—on or before 21 August in that financial
year.
(2) However:
(a) if:
(i) during the *financial year but after
28 October in that financial year, you became eligible under
section 151-5 to make an *annual tax
period election; and
(ii) this subsection had not applied to you before; and
(iii) your *current GST lodgment record
is not more than 6 months; or
(b) if the financial year started on 1 July 2004 and the Commissioner
determines in writing that this paragraph applies;
you must make your election on or before the first day, after becoming
eligible under section 151-5 or after the Commissioner’s
determination, on which you would, but for this Division, be required to give a
*GST return to the Commissioner.
(3) The Commissioner may, in accordance with a request you make in the
*approved form, allow you to make your election
on a specified day occurring after the day provided for under
subsection (1) or (2).
Note: Refusing a request to be allowed to make an election
on a specified day under this subsection is a reviewable GST decision (see
Division 7 of Part VI of the Taxation Administration Act
1953).
General rule
(1) Your election ceases to have effect if:
(a) you revoke it, by notifying the Commissioner in the
*approved form; or
(b) the Commissioner disallows it; or
(c) on 31 July in a *financial year,
your *annual turnover meets the
*registration turnover threshold.
Revocation
(2) A revocation of your election is taken to have had, or has,
effect:
(a) if you notify the Commissioner on or before 28 October in a
financial year—from the start of that
*financial year; or
(b) if you notify the Commissioner after 28 October in a financial
year—from the start of the next financial year.
Disallowance
(3) The Commissioner must not disallow your election unless the
Commissioner is satisfied that you have a history of failing to comply with your
obligations under a *taxation law.
Note: Disallowing your election is a reviewable GST decision
(see Division 7 of Part VI of the Taxation Administration Act
1953).
(4) A disallowance of your election is taken to have had effect:
(a) if the Commissioner notifies you of the disallowance during the
*financial year in which your election first
took effect—from the start of the tax period in which it first took
effect; or
(b) if the Commissioner notifies you of the disallowance on or before
28 October during a later financial year—from the start of that later
financial year; or
(c) if the Commissioner notifies you of the disallowance after
28 October during a later financial year—from the start of the
financial year immediately following that later financial year.
Meeting the registration turnover threshold
(5) If paragraph (1)(c) applies, your election is taken to have
ceased to have effect from the start of the financial year referred to in that
paragraph.
(1) While an *annual tax period election
that you have made has effect, each *financial
year is a tax period that applies to you.
(2) However, if your *annual tax period
election takes effect on a day that is not the start of a
*financial year, the period from when your
annual tax period election takes effect until the end of the financial year in
which it takes effect is a tax period that applies to you.
(3) A tax period under this section is an annual tax
period.
(4) This section has effect despite sections 27-5, 27-10, 27-15 and
27-30 (which are about tax periods).
(1) You must give your *GST return for an
*annual tax period to the
Commissioner:
(a) if you are required under section 161 of the
*ITAA 1936 to lodge a return in relation to a
year of income corresponding to, or ending during, an annual tax period applying
to you—within:
(i) the period, specified in the notice published in the Gazette
under that section, for you to lodge as required under that section;
or
(ii) such further time as the Commissioner has permitted for you to lodge
as required under that section; or
(b) if paragraph (a) does not apply—on or before the
28 February following the end of the annual tax period.
Note: Section 388-55 in Schedule 1 to the
Taxation Administration Act 1953 allows the Commissioner to defer the
time for giving the GST return.
(2) This section has effect despite sections 31-8 and 31-10 (which
are about when GST returns must be given).
(1) If the *net amount for an
*annual tax period applying to you is greater
than zero, you must pay the net amount to the Commissioner on or before the day
on which, under section 151-45, you are required to give to the
Commissioner your *GST return for the annual
tax period.
(2) This section has effect despite section 33-5 (which is about when
payments of net amounts are made).
(1) If any of the following occurs:
(a) an entity who is an individual dies;
(b) an entity ceases to *carry on any
*enterprise;
(c) an entity’s *registration is
cancelled;
during an *annual tax period applying to
the entity, the annual tax period is not affected by the death, cessation or
cancellation.
(2) This section has effect despite section 27-40 (which is about an
entity’s concluding tax period).
(3) However, this section does not affect the application of
section 27-40 if:
(a) an entity who is an individual becomes bankrupt; or
(b) an entity that is not an individual goes into liquidation or
receivership or for any reason ceases to exist.
(1) If:
(a) an entity who is an individual becomes bankrupt; or
(b) an entity that is not an individual goes into liquidation or
receivership or for any reason ceases to exist;
the entity must give the *GST return, for
the *annual tax period that ends because of the
bankruptcy, liquidation, receivership or cessation, to the
Commissioner:
(c) on or before the 21st day of the month following the end of the annual
tax period; or
(d) within such further period as the Commissioner allows.
(2) If the *net amount for the
*annual tax period is greater than zero, the
entity must pay the net amount to the Commissioner on or before the 21st day of
the month following the end of the annual tax period.
(3) This section has effect despite sections 151-45 (which is about
when GST returns for annual tax periods must be given) and 151-50 (which is
about when payments of net amounts for annual tax periods must be
made).
(1) If you are a *member of a
*GST group whose membership changes during an
*annual tax period applying to you, the annual
tax period ends when the membership of the GST group changes.
(2) The *representative member of the
*GST group must give the
*GST return for the
*annual tax period to the
Commissioner:
(a) on or before the 21st day of the month following the end of the annual
tax period; or
(b) within such further period as the Commissioner allows.
(3) If the *net amount for the
*annual tax period is greater than zero, the
*representative member of the
*GST group must pay the net amount to the
Commissioner on or before the 21st day of the month following the end of the
annual tax period.
(4) This section has effect despite sections 151-40 (which is about
annual tax periods), 151-45 (which is about when GST returns for annual tax
periods must be given) and 151-50 (which is about when payments of net amounts
for annual tax periods must be made).
(1) If an *annual tax period applying to
you ends under section 151-65 other than at the end of a
*financial year, the remainder of that
financial year constitutes one or more tax periods applying to you.
(2) Those one or more tax periods are the tax periods that would have
applied to you, in respect of the remainder of the
*financial year, if this Division had never
applied.
(3) However, if the *annual tax period
ends other than immediately before the start of a tax period referred to in
subsection (2), that tax period so referred to is taken to start
immediately after the end of the annual tax period.
(4) Subsection (3) of this section has effect despite
sections 27-5, 27-10 and 27-15 (which are about tax periods).
7 Section 195-1
Insert:
annual tax period has the meaning given by
section 151-40.
8 Section 195-1
Insert:
annual tax period election means an election made under
section 151-10.
9 Section 195-1 (definition of tax
period)
Omit “or 147-25”, substitute “, 147-25 or
151-40”.
Taxation Administration Act
1953
10 Subsection 62(2) (before table
item 37B)
Insert:
|
37AD |
refusing a request to allow an annual tax period election to take effect
from the start of another tax period |
paragraph 151-10(2)(b) |
|
37AE |
refusing a request to be allowed to make an annual tax period election on a
specified day |
subsection 151-20(3) |
|
37AF |
disallowing an annual tax period election |
subsection 151-25(3) |
11 Application
The amendments made by this Schedule apply, and are taken to have applied,
in relation to net amounts for tax periods starting, or that started, on or
after 1 July 2004.
A New Tax System (Goods and
Services Tax) Act 1999
1 Section 11-99 (after table
item 1A)
Insert:
|
1B |
Annual apportionment of creditable purpose |
Division 131 |
2 Section 15-99 (before table
item 1A)
Insert:
|
1AA |
Annual apportionment of creditable purpose |
Division 131 |
3 Section 17-99 (before table
item 1)
Insert:
|
1A |
Annual apportionment of creditable purpose |
Division 131 |
4 Section 29-99 (after table
item 1)
Insert:
|
1A |
Annual apportionment of creditable purpose |
Division 131 |
5 Section 37-1 (after table
item 1)
Insert:
|
1A |
Annual apportionment of creditable purpose |
Division 131 |
6 After subsection 72-45(1)
Insert:
(1A) However, if:
(a) an *annual apportionment election
that you have made has effect at the end of the tax period to which the input
tax credit is attributable; and
(b) the acquisition is not an acquisition of a kind specified in the
regulations made for the purposes of paragraph 131-40(1)(b);
the amount of the input tax credit on the acquisition is worked out under
section 131-40 as if you had provided, or had been liable to provide, all
of the *consideration for the
acquisition.
7 After subsection 78-10(2)
Insert:
(2A) In working out the amount of an input tax credit for the purposes of
subparagraph (2)(b)(ii), disregard sections 131-40 and 131-50 (which
are about amounts of input tax credits under the annual apportionment
rules).
8 After subsection 78-50(2)
Insert:
(2A) In working out, for the purposes of subparagraph (1)(c)(ii) or
subsection (2), whether an entitlement to an input tax credit has been
understated, or the extent of the understatement, disregard sections 131-40
and 131-50 (which are about amounts of input tax credits under the annual
apportionment rules).
9 After subsection 84-13(1)
Insert:
(1A) However, if:
(a) an *annual apportionment election
that you have made has effect at the end of the tax period to which the input
tax credit is attributable; and
(b) the acquisition is not an acquisition of a kind specified in the
regulations made for the purposes of paragraph 131-40(1)(b);
the amount of the input tax credit on the acquisition is worked out under
section 131-40 as if full input tax credit had the same
meaning in subsection 131-40(2) as it has in subsection (1) of this
section.
10 After subsection 111-5(3)
Insert:
(3AA) In working out the extent to which a person is entitled to an input
tax credit for the purposes of paragraph (3)(a), disregard
sections 131-40 and 131-50 (which are about amounts of input tax credits
under the annual apportionment rules).
11 After Division 130
Insert:
Table of Subdivisions
131-A Electing to have annual apportionment
131-B Consequences of electing to have annual apportionment
In some cases, you may be able to claim a full input tax credit for
acquisitions that are only partly for a creditable purpose. You will then have
an increasing adjustment for a later tax period (that better matches your
obligation to lodge an income tax return).
(1) You are eligible to make an *annual
apportionment election if:
(a) your *annual turnover does not exceed
the *annual apportionment turnover threshold;
and
(b) you have not made any election under section 162-15 to pay GST by
instalments (other than such an election that is no longer in effect);
and
(c) you have not made any *annual tax
period election (other than such an election that is no longer in
effect).
(2) The annual apportionment turnover threshold
is:
(a) $2 million; or
(b) such higher amount as the regulations specify.
(1) You may make an *annual apportionment
election if you are eligible under section 131-5.
(2) Your election takes effect from:
(a) the start of the earliest tax period for which, on the day on which
you make your election, your *GST return is not
yet due (taking into account any further period the Commissioner allows under
paragraph 31-8(1)(b) or 31-10(1)(b)); or
(b) the start of such other tax period as the Commissioner allows, in
accordance with a request you make in the
*approved form.
Note: Refusing a request to allow your election to take
effect from the start of another tax period is a reviewable GST decision (see
Division 7 of Part VI of the Taxation Administration Act
1953).
(1) A *representative member of a
*GST group cannot make an
*annual apportionment election unless each
*member of the GST group is eligible under
section 131-5.
(2) If the *representative member makes
such an election, or revokes such an election, each
*member of the
*GST group is taken to have made, or revoked,
the election.
General rule
(1) Your election ceases to have effect if:
(a) you revoke it; or
(b) the Commissioner disallows it; or
(c) on 31 July in a financial year, your
*annual turnover exceeds the
*annual apportionment turnover
threshold.
Revocation
(2) A revocation of your election is taken to have had, or has, effect at
the start of the earliest tax period for which, on the day of the revocation,
your *GST return is not yet due.
Disallowance
(3) The Commissioner must not disallow your election unless the
Commissioner is satisfied that you have a history of failing to comply with your
obligations under a *taxation law.
Note: Disallowing your election is a reviewable GST decision
(see Division 7 of Part VI of the Taxation Administration Act
1953).
(4) A disallowance of your election is taken to have had effect from the
start of the tax period in which the Commissioner notifies you of the
disallowance.
Exceeding the registration turnover threshold
(5) If paragraph (1)(c) applies, your election is taken to have
ceased to have effect from the start of the tax period in which 31 July in
the financial year referred to in that paragraph falls.
(1) The amount of the input tax credit on an acquisition that you make
that is *partly creditable is an amount equal
to the GST payable on the supply of the thing acquired if:
(a) an *annual apportionment election
that you have made has effect at the end of the tax period to which the input
tax credit is attributable; and
(b) the acquisition is not an acquisition of a kind specified in the
regulations.
(2) However, if one or both of the following apply to the
acquisition:
(a) the acquisition relates to making supplies that would be
*input taxed;
(b) you provide, or are liable to provide, only part of the
*consideration for the acquisition;
the amount of the input tax credit on the acquisition is as
follows:
where:
extent of consideration is the extent to which you provide,
or are liable to provide, the *consideration
for the acquisition, expressed as a percentage of the total consideration for
the acquisition.
extent of non-input-taxed purpose is the extent to which the
acquisition does not relate to making supplies that would be
*input taxed, expressed as a percentage of the
total purpose of the acquisition.
full input tax credit is what would have been the amount of
the input tax credit for the acquisition if it had been made solely for a
*creditable purpose and you had provided, or
had been liable to provide, all of the consideration for the
acquisition.
(3) In determining for the purposes of subsection (2) whether, or the
extent to which, an acquisition relates to making supplies that would be
*input taxed, subsections 11-15(3) to (5) apply
in the same way that they apply for the purposes of paragraph
11-15(2)(a).
(4) Determinations made by the Commissioner under subsection 11-30(5)
apply (so far as they are capable of applying) to working out the extent to
which a *partly creditable acquisition does not
relate to making supplies that would be *input
taxed.
(5) This section does not apply to an input tax credit on an acquisition
if the acquisition is, to any extent, a
*reduced credit acquisition.
(6) This section has effect despite sections 11-25 and 11-30 (which
are about amounts of input tax credits).
(1) The amount of the input tax credit on an importation that you make
that is *partly creditable is an amount equal
to the GST payable on the importation if:
(a) an *annual apportionment election
that you have made has effect at the end of the tax period to which the input
tax credit is attributable; and
(b) the importation is not an importation of a kind specified in the
regulations.
(2) However, if the importation relates to making supplies that would be
*input taxed, the amount of the input tax
credit on the importation is as follows:
where:
extent of non-input-taxed purpose is the extent to which the
importation does not relate to making supplies that would be
*input taxed, expressed as a percentage of the
total purpose of the importation.
full input tax credit is what would have been the amount of
the input tax credit for the importation if it had been made solely for a
*creditable purpose.
(3) In determining for the purposes of subsection (2) whether, or the
extent to which, an importation relates to making supplies that would be
*input taxed, subsections 15-10(3) to (5) apply
in the same way that they apply for the purposes of paragraph
15-10(2)(a).
(4) Determinations made by the Commissioner under subsection 15-25(4)
apply (so far as they are capable of applying) to working out the extent to
which a *partly creditable importation does not
relate to making supplies that would be *input
taxed.
(5) This section has effect despite sections 15-20 and 15-25 (which
are about amounts of input tax credits).
(1) If:
(a) this Division applies to working out the amount of a
*creditable acquisition or
*creditable importation that you made;
and
(b) the acquisition or importation is an acquisition or importation of a
*car;
the amount of the input tax credit on the acquisition or importation under
this Division must not exceed the amount (if any) of the input tax credit worked
out under section 69-10.
(2) However, if subsection 131-40(2) or 131-45(2) applies to the
acquisition or importation:
(a) take into account the operation of section 69-10 in working out
the full input tax credit for the purposes of that subsection; but
(b) disregard subsection 69-10(3).
(1) You have an increasing adjustment if:
(a) an acquisition or importation that you made was
*partly creditable; and
(b) the input tax credit on the acquisition or importation is attributable
to a tax period ending in a particular
*financial year; and
(c) the amount of the input tax credit is an amount worked out under this
Division.
(2) The amount of the increasing adjustment is an amount equal to the
difference between:
(a) the amount of the input tax credit worked out under this Division;
and
(b) what would have been the amount of the input tax credit if this
Division did not apply.
(1) An *increasing adjustment under
section 131-55 is attributable to the latest tax period:
(a) that occurs after the end of the
*financial year in which the tax period ends
that is the tax period to which is attributable the input tax credit for the
acquisition or importation to which the adjustment relates; and
(b) if you are required under section 161 of the
*ITAA 1936 to lodge a return in relation to a
year of income corresponding to, or ending during, that financial
year—during which occurs the last day of:
(i) the period, specified in the notice published in the Gazette
under that section, for you to lodge as required under that section;
or
(ii) such further time as the Commissioner has permitted for you to lodge
as required under that section; and
(c) if paragraph (b) does not apply—during which occurs
31 December in the financial year immediately following that financial
year;
or to such earlier tax period as you choose.
Note: Section 388-55 in Schedule 1 to the
Taxation Administration Act 1953 allows the Commissioner to defer the
time for giving the GST return.
(2) However, if your *annual
apportionment election ceases to have effect during, but not from the start of,
the *financial year referred to in
paragraph (1)(a) because:
(a) you revoke your annual apportionment election, or the Commissioner
disallows your election, during that financial year, and the revocation or
disallowance takes effect before the end of that financial year; or
(b) paragraph 131-20(1)(c) applies and the tax periods that apply to you
are each individual month;
the *increasing adjustment is attributable
to the tax period in which the cessation takes effect, or to such earlier tax
period as you choose.
(3) This section has effect despite section 29-20 (which is about
attributing your adjustments).
12 Subsection 132-5(2) (paragraph (b) of the
definition of adjusted input tax credit)
Repeal the paragraph, substitute:
(b) the sum of:
(i) any *increasing adjustments, under
Subdivision 19-C or Division 129, that were previously attributable to
a tax period in respect of the acquisition or importation; and
(ii) any increasing adjustment under Division 131 that has been
previously, is or will be attributable to a tax period in respect of the
acquisition or importation; plus
13 Section 188-5 (after table
item 4)
Insert:
|
4A |
Annual apportionment turnover threshold |
whether you can make an annual apportionment election (see subsection
131-5(2)) |
14 Before paragraph
188-10(3)(aa)
Insert:
(aaa) the *annual apportionment turnover
threshold;
15 Section 195-1
Insert:
annual apportionment election means an election made under
section 131-10.
16 Section 195-1
Insert:
annual apportionment turnover threshold has the meaning given
by subsection 131-5(2).
17 Section 195-1 (after table item 5A in
the definition of increasing adjustment)
Insert:
|
5B |
Section 131-55 |
Annually apportioned acquisitions and importations |
Taxation Administration Act
1953
18 Subsection 62(2) (after table
item 37A)
Insert:
|
37AB |
refusing a request to allow an annual apportionment election to take effect
from the start of another tax period |
paragraph 131-10(2)(b) |
|
37AC |
disallowing an annual apportionment election |
subsection 131-20(3) |
19 Application
The amendments made by this Schedule apply, and are taken to have applied,
in relation to net amounts for tax periods starting, or that started, on or
after 1 July 2004.
A New Tax System (Goods and
Services Tax) Act 1999
1 Subsections 162-15(2), (3) and
(4)
Repeal the subsections, substitute:
(2) Your election takes effect from:
(a) the start of the earliest tax period for which, on the day on which
you make your election, your *GST return is not
yet due; or
(b) the start of such other tax period as the Commissioner allows, in
accordance with a request you make in the
*approved form.
Note: Refusing a request to allow your election to take
effect from the start of another tax period is a reviewable GST decision (see
Division 7 of Part VI of the Taxation Administration Act
1953).
2 Section 162-30
Repeal the section, substitute:
General rule
(1) Your election ceases to have effect if:
(a) you revoke it, by notifying the Commissioner in the
*approved form; or
(b) the Commissioner disallows it; or
(c) on 31 July in a *financial year,
your *annual turnover exceeds the
*instalment turnover threshold; or
(d) during the first tax period applying to you in a financial year, you
are in a *net refund position.
Revocation
(2) A revocation of your election is taken to have had, or has,
effect:
(a) if you notify the Commissioner on or before 28 October in a
financial year—from the start of that financial year; or
(b) if you notify the Commissioner after 28 October in a financial
year—from the start of the next financial year.
Disallowance
(3) The Commissioner must not disallow your election unless the
Commissioner is satisfied that you have a history of failing to comply with your
obligations under a *taxation law.
Note: Disallowing your election is a reviewable GST decision
(see Division 7 of Part VI of the Taxation Administration Act
1953).
(4) A disallowance of your election is taken to have had effect:
(a) if the Commissioner notifies you of the disallowance during the
financial year in which your election first took effect—from the start of
the tax period in which it first took effect; or
(b) if the Commissioner notifies you of the disallowance on or before
28 October during a later financial year—from the start of that later
financial year; or
(c) if the Commissioner notifies you of the disallowance after
28 October during a later financial year—from the start of the
financial year immediately following that later financial year.
Exceeding the instalment turnover threshold
(5) If paragraph (1)(c) applies, your election is taken to have
ceased to have effect from the start of the financial year referred to in that
paragraph.
Being in a net refund position
(6) If paragraph (1)(d) applies, your election is taken to have
ceased to have effect from the start of the financial year referred to in that
paragraph.
3 Subsection 162-50(2)
Omit “the”, substitute “any”.
Taxation Administration Act
1953
4 Subsection 62(2) (table
item 37B)
Repeal the item, substitute:
|
37B |
refusing a request to allow an election to pay GST by instalments to take
effect from the start of another tax period |
paragraph 162-15(2)(b) |
5 Subsection 62(2) (after table
item 37C)
Insert:
|
37D |
disallowing an election to pay GST by instalments |
subsection 162-30(3) |
6 Application
The amendments made by this Schedule apply, and are taken to have applied,
in relation to net amounts for tax periods starting, or that started, on or
after 1 July 2004.