Document ID: chunk:federal_register_of_legislation:C2025C00126:clause:3_16:p46
Version: federal_register_of_legislation:C2025C00126
Segment Type: clause
Provision Reference: sch 3 cl 16 (pt 46/58)
Character Range: 753514–756178

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 effect of incapacitation or cessation
 (1) If an entity becomes an *incapacitated entity, or the entity for any reason ceases to exist, the entity must give the *GST return, for the *annual tax period that ends as a result, to the Commissioner:
 (a) on or before the 21st day of the month following the end of the annual tax period; or
 (b) within such further period as the Commissioner allows.
 (2) If the *assessed net amount for the *annual tax period is greater than zero, the entity must pay the assessed net amount to the Commissioner on or before the 21st day of the month following the end of the annual tax period.
 (3) This section has effect despite sections 151‑45 (which is about when GST returns for annual tax periods must be given) and 151‑50 (which is about when payments of assessed net amounts for annual tax periods must be made).

Division 153—Agents etc. and insurance brokers

Table of Subdivisions
153‑A General
153‑B Principals and intermediaries as separate suppliers or acquirers

153‑1  What this Division is about
      This Division sets out the rules for holding and issuing tax invoices and adjustment notes when your supplies or acquisitions are made through an agent, or when insurance is supplied through an insurance broker. It also allows in some cases a supply or acquisition made through, or facilitated by, an entity on your behalf to be treated as 2 separate supplies or acquisitions.

Subdivision 153‑A—General

153‑5  Attributing the input tax credits for your creditable acquisitions
 (1) If:
 (a) you are entitled to the input tax credit for a *creditable acquisition made through an agent; and
 (b) neither you nor your agent holds a *tax invoice for the acquisition when you give to the Commissioner a *GST return for the tax period to which the input tax credit on the acquisition would otherwise be attributable;
then:
 (c) the input tax credit (including any part of the input tax credit) is not attributable to that tax period; and
 (d) the input tax credit (or the part of the input tax credit) is attributable to the first tax period for which you give to the Commissioner a GST return at a time when you or your agent holds that tax invoice.
 (2) This section has effect despite subsection 29‑10(3) (which is about the requirement to hold a tax invoice).

153‑10  Attributing your adjustments
 (1) If:
 (a) you have a *decreasing adjustment relating to a supply