Pt 2-15 (heading) substituted by No 66 of 2003.
Pt 2-15 inserted by No 121 of 1997.
Div 50 inserted by No 121 of 1997.
Subdiv 50-B inserted by No 179 of 1999.
S 50-145 repealed by No 95 of 2004, s 3 and Sch 10 item 39, effective 1 July 2005. For transitional provision, see note in s 30-130. S 50-145 formerly read:
Telling Commissioner of loss of entitlement to endorsement
50-145(1) Before, or as soon as practicable after, an entity that is endorsed as exempt from income tax ceases to be entitled to be endorsed, the entity must give the Commissioner written notice of the cessation.
Note 1: An entity ceases to be entitled to endorsement if it ceases to be covered by item 1.1, 1.5, 1.5A or 1.5B of the table in section 50-5 or ceases to meet the special conditions identified in the item that covers it: see section 50-110.
Note 2: This Act is a taxation law for the purposes of the Taxation Administration Act 1953. Failure to comply with this subsection is an offence against section 8C of that Act.
Note 3: Section 50-150 modifies the way this subsection operates in relation to partnerships and unincorporated bodies.
50-145(2) The notice:
(a) may be *lodged electronically; and
(b) must be signed for the entity, or include the entity's *electronic signature if the document is lodged electronically.
50-145(3) Subsection (1) does not apply to an entitlement to endorsement ceasing because the entity ceases to have an *ABN.
S 50-145 inserted by No 179 of 1999.