Document ID: chunk:federal_register_of_legislation:C2025C00126:clause:3_4:p3
Version: federal_register_of_legislation:C2025C00126
Segment Type: clause
Provision Reference: sch 3 cl 4 (pt 3/5)
Character Range: 788292–790944

the Taxation Administration Act 1953).
 (4) A disallowance of your election is taken to have had effect:
 (a) if the Commissioner notifies you of the disallowance during the *financial year in which your election first took effect—from the start of the tax period in which it first took effect; or
 (b) if the Commissioner notifies you of the disallowance on or before 28 October during a later financial year—from the start of that later financial year; or
 (c) if the Commissioner notifies you of the disallowance after 28 October during a later financial year—from the start of the financial year immediately following that later financial year.

Not being a small business entity for an income year
 (5) If paragraph (1)(c) applies, your election is taken to have ceased to have effect from 1 July in the *income year referred to in that paragraph.

Failing to satisfy the requirements of subparagraph 162‑5(1)(a)(ii)
 (5A) If paragraph (1)(ca) applies, your election is taken to have ceased to have effect from the start of the *financial year referred to in that paragraph.

Becoming a limited registration entity
 (6) If paragraph (1)(d) applies, your election is taken to have ceased to have effect from the start of the *financial year referred to in that paragraph.

Subdivision 162‑B—Consequences of electing to pay GST by instalments

162‑50  GST instalment payers
 (1) You are a GST instalment payer while an election that you have made under section 162‑15 has effect.
 (2) You are a GST instalment payer for any *financial year for which your election has effect.
 (3) However, if your election has effect only for part of a *financial year, you are a GST instalment payer only for that part of that financial year.

162‑55  Tax periods for GST instalment payers
 (1) The tax period that applies to you, if you are a *GST instalment payer for a *financial year, is that financial year.
 (2) The tax period that applies to you, if you are a *GST instalment payer only for part of a *financial year, is that part of that financial year.
 (3) A tax period under this section is an instalment tax period.
 (4) This section has effect despite sections 27‑5, 27‑10, 27‑15 and 27‑30 (which are about tax periods).

162‑60  When GST returns for GST instalment payers must be given
 (1) You must give your *GST return for the *instalment tax period to the Commissioner:
 (a) if you are required under section 161 of the *ITAA 1936 to lodge a return in relation to a year of income corresponding to, or ending during, an instalment tax period applying to you—within the period, specified in the instrument made under that section, for you to lodge