Tax Commissioner Michael Carmody today announced how businesses can cancel their GST registration.
Legislation recently passed by the Parliament allows the Australian Taxation Office (ATO) to cancel voluntary GST registration effective from as early as July 1, 2000.
"For eligible businesses the change means they have effectively never been registered for GST," Carmody says.
"Therefore, businesses who meet the eligibility criteria will be able to claim back any GST they have paid to the tax office so far."
A business is eligible to have its voluntary GST registration cancellation back-dated if:
- it has not held itself out to other businesses as being registered for GST
- it has not issued tax invoices or adjustment notes
- it has not claimed input tax credits, special transitional credits or GST transitional credits, or if such credits have been claimed, a net GST amount has been paid to the ATO for each tax period where a business activity statement (BAS) has been lodged
- the business makes a signed statement to the ATO that it satisfies all the above points.
To find out more about back-dating the cancellation of voluntary GST registration, visit
www.taxreform.ato.gov.au or call the ATO on 13 24 78.