Document ID: chunk:federal_register_of_legislation:F2023C00564:reg:3:p1
Version: federal_register_of_legislation:F2023C00564
Segment Type: reg
Provision Reference: reg 3 (pt 1/4)
Character Range: 10601–13395

3  Authority
 (1) Subject to subsection (2), this instrument is made under the A New Tax System (Goods and Services Tax) Act 1999.
 (2) Part 7‑2 is made under the A New Tax System (Goods and Services Tax Transition) Act 1999.

Chapter 2—The basic rules

Part 2‑5—Registration

Division 23—Who is required to be registered and who may be registered

23‑15.01  Registration turnover threshold (other than for non‑profit bodies)
  For the purposes of paragraph 23‑15(1)(b) of the Act, the amount of $75,000 is specified.

23‑15.02  Registration turnover threshold for non‑profit bodies
  For the purposes of paragraph 23‑15(2)(b) of the Act, the amount of $150,000 is specified.

Part 2‑6—Tax periods

Division 29—What is attributable to tax periods

Subdivision 29‑C—Tax invoices and adjustment notes

29‑80.01  Value of taxable supply for which tax invoice not required
  For the purposes of subsection 29‑80(1) of the Act, the amount of $75 is specified.

29‑80.02  Amount for which adjustment note not required
  For the purposes of subsection 29‑80(2) of the Act, the amount of $75 is specified.

Part 2‑7—Returns, payments and refunds

Division 33—Payments of GST

33‑15.01  Object of this Division
  The object of this Division is to provide for the deferral of payments of amounts of assessed GST on taxable importations.

33‑15.01A  Circumstances in which payments of assessed GST on taxable importations are deferred
  For the purposes of paragraph 33‑15(1)(b) of the Act, amounts of assessed GST on taxable importations are to be paid in accordance with section 33‑15.01B of this instrument if both of the following requirements are met:
 (a) GST returns in relation to the importer are lodged with the Commissioner in the approved form;
 (b) either:
 (i) the goods in question are entered for home consumption (within the meaning of the Customs Act 1901) by computer and the importer is an approved entity at the time of the taxable importation; or
 (ii) the goods in question are taken to have been entered for home consumption for the purposes of the A New Tax System (Goods and Services Tax) Act 1999 under subsection 105D(2) of the Customs Act 1901 and the importer is an approved entity at that time.

33‑15.01B  Payment
 (1) An amount of assessed GST on a taxable importation that is payable by an approved entity must be paid to the Commissioner on or before the 21st day after the end of the month in which the liability for the assessed GST arose.
 (2) Amounts of assessed GST must be paid by electronic payment.

33‑15.02  Application for approval
  An entity may apply to the Commissioner in the approved form for approval to make deferred payments of assessed GST on taxable importations.

33‑15.03  Requirements for approval
 (1) The Commissioner must, in writing, approve