TAXATION ADMINISTRATION ACT 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

PART 2-10 - PAY AS YOU GO (PAYG) INSTALMENTS  

Division 45 - Instalment payments  

Subdivision 45-DA - Monthly payers  

SECTION 45-138   MONTHLY PAYER REQUIREMENT  

45-138(1)  
You satisfy the requirement in this subsection for an income year if at the start of your *MPR test day for that income year, your base assessment instalment income (within the meaning of section 45-320 ) for the *base year equals or exceeds:


(a) $20 million; or


(b) if regulations made for the purposes of this paragraph specify a different amount - that amount.

45-138(2)  
However, you do not satisfy the requirement in subsection (1) for an income year if, at the start of your *MPR test day for that income year:


(a) you have (or, if you are a *member of a *GST group, the *representative member of the GST group has) an obligation to give the Commissioner a *GST return for a quarterly *tax period; and


(b) you are not the *head company of a *consolidated group nor the *provisional head company of a *MEC group; and


(c) your base assessment instalment income (within the meaning of section 45-320 ) for the *base year is less than $100 million.

45-138(3)  
For the purposes of subsections (1) and (2), at the start of an entity ' s *MPR test day:


(a) determine the amount of the entity ' s base assessment instalment income (within the meaning of section 45-320 ) for the *base year only on the basis of the information provided by the Commissioner to the entity before that start of that day; and


(b) in determining on that day whether an entity has an obligation mentioned in paragraph (2)(a), disregard any creation or removal of such an obligation after that day (even if that change is made retrospective to that day).

45-138(4)  
An entity ' s MPR test day for an income year is:


(a) if the Commissioner gives the entity an instalment rate for the first time during an *instalment month in the income year - the last day of that month; or


(b) otherwise - the first day of the third last month of the previous income year.

45-138(5)  
Subsection (6) applies if, disregarding that subsection, an entity does not satisfy the requirement in subsection (1) for an income year.

45-138(6)  
For the purposes of this section, in determining the entity ' s base assessment instalment income (within the meaning of section 45-320 ) for the *base year:


(a) disregard subsection 45-120(2C) ; and


(b) disregard paragraph (3)(a) of this section, to the extent that that paragraph relates to the operation of subsection 45-120(2C) .

45-138(7)  
If, because of subsection (6), the entity satisfies the requirement in subsection (1) for an income year, the entity must give the Commissioner a notice in the *approved form in respect of that income year before:


(a) if the *starting instalment month in the income year is determined under paragraph 45-136(2)(a) - the end of that starting instalment month; or


(b) if the starting instalment month in the income year is determined under paragraph 45-136(2)(b) - the start of that starting instalment month.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.