Document ID: chunk:federal_register_of_legislation:C2025C00126:clause:3_16:p40
Version: federal_register_of_legislation:C2025C00126
Segment Type: clause
Provision Reference: sch 3 cl 16 (pt 40/58)
Character Range: 738696–741510

date of effect of the cancellation occurs after the start of that tax period—ceases to have effect on the date of effect of the cancellation; and
 (c) if paragraph (b) does not apply and, under subsection (5), you revoke the election—ceases to have effect at the start of your first tax period to start after the revocation.
 (4) However, the election never takes effect if your *registration is cancelled and the date of effect of the cancellation occurs on or before the start of the tax period you nominate in the election.

Revoking an election
 (5) You may, by notifying the Commissioner in the *approved form, revoke an election under subsection (2).
 (6) However, subsection (5) does not apply if you have been notified that the Commissioner has decided to cancel your *registration (whether or not the cancellation has already taken effect).

146‑10  Limited registration entities cannot make creditable acquisitions
 (1) An acquisition made by a *limited registration entity is not a *creditable acquisition if an election under subsection 146‑5(2) is in effect for the entity when the acquisition is made.
 (2) However, subsection (1) does not apply, and is taken never to have applied, to the acquisition if you revoke the election under subsection 146‑5(5) during:
 (a) the *financial year in which the acquisition is made; or
 (b) the next financial year.
 (3) This section has effect despite section 11‑5 (which is about what is a creditable acquisition).

146‑15  Limited registration entities cannot make creditable importations
 (1) An importation made by a *limited registration entity is not a *creditable importation if an election under subsection 146‑5(2) is in effect for the entity when the importation is made.
 (2) However, subsection (1) does not apply, and is taken never to have applied, to the importation if you revoke the election under subsection 146‑5(5) during:
 (a) the *financial year in which the importation is made; or
 (b) the next financial year.
 (3) This section has effect despite section 15‑5 (which is about what is a creditable importation).

146‑20  Entries in the Australian Business Register
 (1) Subsection 25‑10(2) does not apply if:
 (a) you become *registered; and
 (b) on the date your registration takes or took effect, you are a *limited registration entity.
Note: Under subsection 25‑10(2), the Australian Business Registrar would otherwise be required to enter that date in the Australian Business Register.
 (2) However, if:
 (a) you cease to be a *limited registration entity at a time when you are *registered; and
 (b) because of subsection (1) of this section, subsection 25‑10(2) did not apply to your registration;
subsection 25‑10(2) is taken to apply from the time you cease to be a limited registration entity.
 (3) Subsection 25‑60(2) does not