Commonwealth Consolidated Acts

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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 162.85

A GST instalment payer's concluding tax period

             (1)  If any of the following occurs:

                     (a)  a * GST instalment payer who is an individual dies;

                     (b)  a GST instalment payer ceases to * carry on any * enterprise;

                     (c)  a GST instalment payer's * registration is cancelled;

during an * instalment tax period applying to the GST instalment payer, the instalment tax period is not affected by the death, cessation or cancellation.

             (2)  However, any requirement to pay * GST instalments for a * GST instalment quarter of the * instalment tax period does not apply if the GST instalment quarter commences after:

                     (a)  the death or cessation occurred; or

                     (b)  the cancellation took effect.

             (3)  This section has effect despite sections 27-40 (which is about an entity's concluding tax period) and 162-70.

             (4)  However, this section does not affect the application of:

                     (a)  section 27-39; or

                     (b)  if a * GST instalment payer for any reason ceases to exist--section 27-40.



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