51‑52 Consolidation of GST returns relat51‑52 Consolidation of GST returns relating to GST joint ventures

51‑52 Consolidation of GST returns relating to GST joint ventures

Electing to consolidate GST returns (1) The *joint venture operator of 2 or more *GST joint ventures may, by notifying the Commissioner in the *approved form, elect to give to the Commissioner consolidated *GST returns relating to all the GST joint ventures of the joint venture operator. (2) The election takes effect on the day specified in the notice. However, the day specified must be the first day of a tax period applying to the *joint venture operator that has not already ceased when the notice is given. Withdrawal of elections (3) The *joint venture operator may, by notifying the Commissioner in the *approved form, withdraw the election. (4) The withdrawal takes effect on the day specified in the notice. However, the day specified: (a) must be the first day of a tax period applying to the *joint venture operator that has not already ceased when the notice is given; and (b) must not be a day occurring earlier than 12 months after the election took effect. Disallowance of elections (5) The Commissioner may disallow the election if the Commissioner is satisfied that the *joint venture operator has a history of failing to comply with the joint venture operator’s obligations (either as a joint venture operator or in any other capacity) under a *taxation law.

Note: Disallowing an election is a reviewable GST decision (see Subdivision 110‑F in Schedule 1 to the Taxation Administration Act 1953).

(6) The disallowance is taken to have had effect from the start of the tax period in which the disallowance occurs.