Document ID: chunk:federal_register_of_legislation:C2004C01268:clause:1_29:p6
Version: federal_register_of_legislation:C2004C01268
Segment Type: clause
Provision Reference: sch 1 cl 29 (pt 6/14)
Character Range: 21451–24195

2 *GST instalment quarters for the instalment tax period.

 (2) This subsection applies to you if:
 (a) both of the following conditions are satisfied:
 (i) you are carrying on a *primary production business in an *income year corresponding to, or ending during, the *instalment tax period;
 (ii) the *assessable income that was *derived from, or resulted from, a primary production business that you carried on in the *base year exceeded the amount of so much of your deductions in that year that are reasonably related to that income; or
 (b) both of the following conditions are satisfied:
 (i) you are a *special professional in an income year corresponding to, or ending during, the instalment tax period;
 (ii) your *assessable professional income in the base year exceeded the amount of so much of your deductions in that year that are reasonably related to that income.

162‑85  A GST instalment payer's concluding tax period

 (1) If any of the following occurs:
 (a) a *GST instalment payer who is an individual dies;
 (b) a GST instalment payer ceases to *carry on any *enterprise;
 (c) a GST instalment payer's *registration is cancelled;
during an *instalment tax period applying to the GST instalment payer, the instalment tax period is not affected by the death, cessation or cancellation.

 (2) However, any requirement to pay *GST instalments for a *GST instalment quarter of the *instalment tax period does not apply if the GST instalment quarter commences after:
 (a) the death or cessation occurred; or
 (b) the cancellation took effect.

 (3) This section has effect despite sections 27‑40 (which is about an entity's concluding tax period) and 162‑70.

 (4) However, this section does not affect the application of those sections if:
 (a) a *GST instalment payer who is an individual becomes bankrupt; or
 (b) a GST instalment payer that is not an individual goes into liquidation or receivership or for any reason ceases to exist.

162‑90  The effect of bankruptcy, liquidation or receivership etc.

 (1) If:
 (a) a *GST instalment payer who is an individual becomes bankrupt; or
 (b) a GST instalment payer that is not an individual goes into liquidation or receivership or for any reason ceases to exist;
the GST instalment payer must give the *GST return, for the *instalment tax period that ends because of the bankruptcy, liquidation, receivership or cessation, to the Commissioner:
 (c) on or before the 21st day of the month following the end of the instalment tax period; or
 (d) within such further period as the Commissioner allows.

 (2) If the *net amount for the *instalment tax period is greater than zero, the *GST instalment payer must pay the net amount to the Commissioner on or before the 21st day of