Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 27.20

             (1)  You may, by notifying the Commissioner in the * approved form, withdraw an election under section 27-10, unless your * GST turnover meets the * tax period turnover threshold.

             (2)  The withdrawal takes effect on the day specified in the notice. However, the day specified:

                     (a)  must be 1 January, 1 April, 1 July or 1 October, or any day occurring before the election takes effect; and

                     (b)  must not be a day occurring earlier than 12 months after the election took effect.