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 you have not made any election under section 162-15 to pay GST by instalments (other than such an election that is no longer in effect).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