Commonwealth Numbered Acts Commonwealth Numbered ActsHow an entity may volunteer
(1) An entity covered by subsection (2) may volunteer to comply with the requirements of this Act for a reporting period, or reporting periods, by giving written notice to the Minister accordingly before the end of the reporting period (or the earliest of the reporting periods), in a manner and form approved by the Minister.
Note: An entity can volunteer under this section in relation to a reporting period and all later reporting periods.
(2) An entity is covered by this subsection for a reporting period if the entity, at any time in the reporting period:
(a) is an Australian entity; or
(b) carries on business in Australia.
Revoking a notice
(3) An entity may revoke a notice given under subsection (1), to the extent that it applies in relation to a reporting period or periods, by giving written notice accordingly to the Minister before the start of the reporting period, or the earliest of the reporting periods.