Document ID: chunk:federal_register_of_legislation:C2025C00126:clause:3_16:p45
Version: federal_register_of_legislation:C2025C00126
Segment Type: clause
Provision Reference: sch 3 cl 16 (pt 45/58)
Character Range: 751184–753761

have made has effect, each *financial year is a tax period that applies to you.
 (2) However, if your *annual tax period election takes effect on a day that is not the start of a *financial year, the period from when your annual tax period election takes effect until the end of the financial year in which it takes effect is a tax period that applies to you.
 (3) A tax period under this section is an annual tax period.
 (4) This section has effect despite sections 27‑5, 27‑10 and 27‑30 (which are about tax periods).

151‑45  When GST returns for annual tax periods must be given
 (1) You must give your *GST return for an *annual tax period to the Commissioner:
 (a) if you are required under section 161 of the *ITAA 1936 to lodge a return in relation to a year of income corresponding to, or ending during, an annual tax period applying to you—within:
 (i) the period, specified in the instrument made under that section, for you to lodge as required under that section; or
 (ii) such further time as the Commissioner has permitted for you to lodge as required under that section; or
 (b) if paragraph (a) does not apply—on or before the 28 February following the end of the annual tax period.
Note: Section 388‑55 in Schedule 1 to the Taxation Administration Act 1953 allows the Commissioner to defer the time for giving the GST return.
 (2) This section has effect despite sections 31‑8 and 31‑10 (which are about when GST returns must be given).

151‑50  When payments of assessed net amounts for annual tax periods must be made
 (1) If the *assessed net amount for an *annual tax period applying to you is greater than zero, you must pay the assessed net amount to the Commissioner on or before the day on which, under section 151‑45, you are required to give to the Commissioner your *GST return for the annual tax period.
 (2) This section has effect despite section 33‑5 (which is about when payments of assessed net amounts must be made).

151‑55  An entity's concluding annual tax period
 (1) If any of the following occurs:
 (a) an entity who is an individual dies;
 (b) an entity ceases to *carry on any *enterprise;
 (c) an entity's *registration is cancelled;
during an *annual tax period applying to the entity, the annual tax period is not affected by the death, cessation or cancellation.
 (2) This section has effect despite section 27‑40 (which is about an entity's concluding tax period).
 (3) However, this section does not affect the application of:
 (a) section 27‑39; or
 (b) if an entity for any reason ceases to exist—section 27‑40.

151‑60  The