Impacts on previous PAYG instalment obligations
If the head company was previously an annual PAYG instalment payer, it becomes a quarterly or monthly payer once it is given a consolidated instalment rate. PAYG instalments must be paid either quarterly or monthly for the consolidated group.
The PAYG instalment obligations of subsidiary members generally cease from the date of effect, which is the beginning of the instalment period in which the head company first receives its consolidated instalment rate.
However, if a subsidiary member has a cycle that is different to the head company's, the subsidiary member must pay an instalment for the period that starts before and ends after the date of effect:
If it uses the instalment rate x instalment income method, the subsidiary member calculates its instalment income as if the instalment period ends on the date of effect and uses its own instalment rate to calculate the amount to pay. Income after the date of effect is treated as belonging to the head company.
If it pays a quarterly or annual instalment amount worked out by us, the whole amount remains payable but can be varied.
Varying the instalment amount could have consequences for the head company of the group. Both the head company and subsidiary member should carefully consider the basis on which any variation is made. If any member varies an instalment, the instalments of all members will be considered on a group basis to determine if the head company is liable to pay GIC. The head company may be liable to pay GIC if the varied instalment amount or rate is less than 85% of the amount or rate that would have covered the group's actual tax liability for that year.
Additional method of reporting monthly instalments
The Commissioner has made a determination that sets out an additional method for calculating monthly instalments.
Updating your address
You can elect to have different postal addresses for some of your dealings with us, for example, your postal address for income tax purposes may be different to that for activity statement purposes.
Lodging your income tax return will automatically keep your income tax address up to date but may not automatically update other addresses.
To update your address for receiving activity statements, phone the business help line on 13 28 66.