Document ID: chunk:federal_register_of_legislation:C2017A00077:clause:1_49:p2
Version: federal_register_of_legislation:C2017A00077
Segment Type: clause
Provision Reference: sch 1 cl 49 (pt 2/3)
Character Range: 33550–36359

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 apply if:
 (a) your *registration is cancelled; and
 (b) because of subsection (1) of this section, the date on which your registration took effect was not entered in the *Australian Business Register; and
 (c) immediately before the cancellation took effect, you were a *limited registration entity.
Note: Under subsection 25‑60(2), the Australian Business Registrar would otherwise be required to enter that date in the Australian Business Register.

146‑25  Limited registration entities have only quarterly tax periods
 (1) If you are a *limited registration entity, you cannot make an election under section 27‑10, and the Commissioner cannot determine your tax periods under section 27‑15 or 27‑37.
Note: Sections 27‑10 and 27‑15 provide for each individual month to be a tax period. Section 27‑37 provides for 12 complete tax periods in each year.
 (2) An election by you under section 27‑10 or a determination under section 27‑15 or 27‑37 in relation to you is taken not to be in force at any time during which you are a *limited registration entity.
 (3) This section has effect despite sections 27‑10, 27‑15 and 27‑37 (which are about one month tax periods).