27‑20 Withdrawing elections of one month27‑20 Withdrawing elections of one month tax periods

27‑20 Withdrawing elections of one month tax periods

(1) You may, by notifying the Commissioner in the *approved form, withdraw an election under section 27‑10, unless your *GST turnover meets the *tax period turnover threshold. (2) The withdrawal takes effect on the day specified in the notice. However, the day specified: (a) must be 1 January, 1 April, 1 July or 1 October, or any day occurring before the election takes effect; and (b) must not be a day occurring earlier than 12 months after the election took effect.