Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 162.25

             (1)  You must make your election on or before 28 October in the * financial year to which it relates.

             (2)  However, if:

                     (a)  during the * financial year but after 28 October in that financial year, you became eligible under section 162-5 to elect to pay GST by instalments; and

                     (b)  this subsection had not applied to you before; and

                     (c)  your * current GST lodgment record is not more than 6 months;

you must make your election on or before the first day, after becoming eligible under section 162-5, on which you would, but for this Division, be required under section 31-8 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 Subdivision 110-F in Schedule 1 to the Taxation Administration Act 1953 ).