Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 151.5

  (1)   You are eligible to make an * annual tax period election if:

  (a)   you are not * required to be registered; and

  (b)   you have not made any election under section   162 - 15 to pay GST by instalments (other than such an election that is no longer in effect).

  (2)   However, you are not eligible to make an * annual tax period election if the only reason you are not * required to be registered is because you disregarded supplies under paragraph   188 - 15(3)(b) or 188 - 20(3)(b) (which are about supplies of rights or options offshore).