Document ID: chunk:federal_register_of_legislation:C2025C00126:section:7:p32
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 7 (pt 32/63)
Character Range: 321241–323945

that the joint venture operator makes, on behalf of another entity that is a participant in the joint venture, in the course of activities for which the joint venture was entered into.
 (2A) However, while an election made by the *joint venture operator under section 51‑52 has effect:
 (a) Division 17 applies to the joint venture operator as if the joint venture operator had an additional *net amount, relating to all the *GST joint ventures for which the joint venture operator is the joint venture operator, for each tax period; and
 (b) that additional net amount is worked out by aggregating what would be the additional *net amounts relating to each GST joint venture under subsection (2) if that subsection applied.
 (3) This section has effect despite sections 17‑5 and 17‑10 (which are about net amounts and adjustments).

51‑50  GST returns relating to GST joint ventures
 (1) The *joint venture operator of a *GST joint venture must, in relation to each *GST joint venture of the joint venture operator, give to the Commissioner a *GST return for each tax period applying to the joint venture operator.
 (2) However, while an election made by the *joint venture operator under section 51‑52 has effect, the joint venture operator must, in relation to all the *GST joint ventures for which the joint venture operator is the joint venture operator, give to the Commissioner a single *GST return for each tax period applying to the joint venture operator.
 (3) This section has effect despite section 31‑5 (which is about who must give GST returns).

51‑52  Consolidation of GST returns relating to GST joint ventures

Electing to consolidate GST returns
 (1) The *joint venture operator of 2 or more *GST joint ventures may, by notifying the Commissioner in the *approved form, elect to give to the Commissioner consolidated *GST returns relating to all the GST joint ventures of the joint venture operator.
 (2) The election takes effect on the day specified in the notice. However, the day specified must be the first day of a tax period applying to the *joint venture operator that has not already ceased when the notice is given.

Withdrawal of elections
 (3) The *joint venture operator may, by notifying the Commissioner in the *approved form, withdraw the election.
 (4) The withdrawal takes effect on the day specified in the notice. However, the day specified:
 (a) must be the first day of a tax period applying to the *joint venture operator that has not already ceased when the notice is given; and
 (b) must not be a day occurring earlier than 12 months after the election took effect.

Disallowance of elections
 (5) The Commissioner may disallow the election if the Commissioner