Registration limits

(1) A person meets or exceeds the registration limits for the purposes of this section where– (a) on the last day of any month– (i) during the period of twelve months ending on that day, the value of supplies made by the person was seventy-five thousand dollars or more; and (ii) there are reasonable grounds for believing that the value of the person’s supplies during the period of twelve 41 months commencing with the first day of that month will be seventy-five thousand dollars or more; or (b) on the last day of any month, there are reasonable grounds for believing that the value of the person’s supplies during the period of twelve months commencing on the first day of the following month will be seventy-five thousand dollars or more. (2) For the purposes of sub-section (1)– (a) the value of supplies made by a person is treated as if it did not include– (i) the value of a supply that would not be a taxable supply if the person were (ii) the value of a supply by way of sale of one or more capital assets of the person; (iii) the value of a supply made solely as a consequence of the person selling the person’s business or part of that business; or (iv) the value of supplies made solely as a consequence of the person permanently ceasing to carry on its business; (b) the Commissioner may require a person to treat the value of supplies made by that person as including the value of supplies made by a related person if he is satisfied that it is appropriate to do so due to the nature of the activities carried out by the related person, the way in which the taxable activities of the 42 person and the related person are carried on, the connections between those persons or between the activities carried on by them, or any other relevant factors. (3) Where a person has been carrying on a business for less than the period of twelve months referred to in sub-section (l)(a)(i), the circumstances required by that sub-paragraph are deemed to exist if, during the lesser period, the average monthly value of the person’s taxable supplies was six thousand two hundred dollars or more. (4) The amounts specified in this section may from time to time be varied by the Minister by Order published in the Gazette and every such Order shall be subject to negative resolution.