Compare documents

Under subsection 48-73(1) of the GST Act, the representative member of the GST group may elect to have the tax period that applies to group members cease at the same time as the incapacitated entity's tax period ceases. If this election is made then the tax period applying to all group members will be the same. Thus the group member that is in liquidation will not be required to exit the group on the basis that it has different tax periods to other members of the GST group. 2. This ATO ID applies where a company goes into liquidation on or after 4 December 2009. Because of changes to Division 48 of the GST Act that apply to tax periods starting on or after 1 July 2010, the ATO ID does not apply to tax periods commencing on or after 1 July 2010.