A New Tax System (Goods and Services Tax) Act 1999
|Chapter 4 - The special rules
|Part 4-5 - Special rules mainly about registration
The special rules in this Part mainly modify the operation of Part 2-5, but they may affect other Parts of Chapter 2 in minor ways.
Div 146 inserted by No 77 of 2017, s 3 and Sch 1 item 49, effective 1 July 2017. No 77 of 2017, s 3 and Sch 1 items 65 and 66 contain the following application provisions:
(1) The amendments made to the A New Tax System (Goods and Services Tax) Act 1999, so far as they relate to working out net amounts for a tax period:
(a) apply to tax periods starting on or after 1 July 2018; and
(b) do not apply to a tax period starting before 1 July 2018.
(2) Subject to subitem (1), the amendments made to the A New Tax System (Goods and Services Tax) Act 1999, so far as they relate to importations, apply to importations made on or after 1 July 2018.66 Limited registration entities
66 An election under subsection 84-140(2) of the A New Tax System (Goods and Services Tax) Act 1999 that was in effect immediately before the commencement of this item continues after that commencement as if it was an election under subsection 146-5(2) of that Act as amended by this Schedule.
You are a limited registration entity for a tax period applying to you if an election under subsection (2) is in effect for you during the period.
Electing to be a limited registration entity
You may, by notifying the Commissioner in the *approved form, make an election under this subsection if you are a *non-resident who:
(a) makes, or intends to make, one or more supplies that are:
(i) *inbound intangible consumer supplies; or
(ii) *offshore supplies of low value goods that were, or would be, *connected with the indirect tax zone, solely because of Subdivision 84-C; or
(b) is, or intends to become, a *redeliverer of *offshore supplies of low value goods.
When an election is in effect
(a) takes effect from the start of the tax period you nominate in the election; and
(b) if your *registration is cancelled and the date of effect of the cancellation occurs after the start of that tax period - ceases to have effect on the date of effect of the cancellation; and
(c) if paragraph (b) does not apply and, under subsection (5), you revoke the election - ceases to have effect at the start of your first tax period to start after the revocation.
However, the election never takes effect if your *registration is cancelled and the date of effect of the cancellation occurs on or before the start of the tax period you nominate in the election.
Revoking an election
You may, by notifying the Commissioner in the *approved form, revoke an election under subsection (2).
However, subsection (5) does not apply if you have been notified that the Commissioner has decided to cancel your *registration (whether or not the cancellation has already taken effect).
S 146-5 inserted by No 77 of 2017, s 3 and Sch 1 item 49, effective 1 July 2017. For application provisions, see note under Div 146 heading.