Document ID: chunk:federal_register_of_legislation:C2004A00749:clause:5_3
Version: federal_register_of_legislation:C2004A00749
Segment Type: clause
Provision Reference: sch 5 cl 3
Character Range: 51432–52725

3  After section 27‑20
Insert:

27‑22  Revoking elections of one month tax periods

 (1) The Commissioner may, if you so request in the *approved form, revoke your election under section 27‑10, with effect from a day occurring earlier than 12 months after the election took effect, unless the Commissioner is satisfied that your *annual turnover meets the *tax period turnover threshold.

Note: Refusing to revoke your election under this subsection is a reviewable GST decision (see Division 7 of Part VI of the Taxation Administration Act 1953).

 (2) In considering your request, the Commissioner may have regard to:
 (a) for how long the tax periods applying to you have been each individual month; and
 (b) whether you have previously been *registered, and whether such tax periods had applied to you; and
 (c) any other relevant matters.

 (3) The revocation:
 (a) takes effect on the day specified in the instrument of revocation; or
 (b) is taken to have had effect from a past day specified in the instrument of revocation.
However, the day specified must be 1 January, 1 April, 1 July or 1 October.

Note: Deciding the date of effect of the revocation is a reviewable decision (see Division 7 of Part VI of the Taxation Administration Act 1953).

Taxation Administration Act 1953