Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
The Commissioner may work out your *benchmark instalment rate for an income year (the variation year ) if, under section 45-205 , you choose an instalment rate to work out the amount of your instalment for an *instalment quarter in that year. 45-355(1A)
The Commissioner may work out your *benchmark tax for an income year (the variation year ) if, under paragraph 45-112(1)(b) or (c) , the amount of your instalment for an *instalment quarter in an income year is worked out on the basis of your estimate of your *benchmark tax for that income year.
The Commissioner may work out your *benchmark tax for an income year (the variation year ) if, under paragraph 45-115(1)(c) , you estimate the amount of your annual instalment for that year.
Note: See section 3AA .
Chapter 2 - Collection, recovery and administration of income tax
PART 2-10
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PAY AS YOU GO (PAYG) INSTALMENTS
Division 45
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Instalment payments
Subdivision 45-K
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How Commissioner works out your benchmark instalment rate and benchmark tax
SECTION 45-355
WHEN COMMISSIONER WORKS OUT BENCHMARK INSTALMENT RATE AND BENCHMARK TAX
45-355(1)
The Commissioner may work out your *benchmark instalment rate for an income year (the variation year ) if, under section 45-205 , you choose an instalment rate to work out the amount of your instalment for an *instalment quarter in that year. 45-355(1A)
The Commissioner may work out your *benchmark tax for an income year (the variation year ) if, under paragraph 45-112(1)(b) or (c) , the amount of your instalment for an *instalment quarter in an income year is worked out on the basis of your estimate of your *benchmark tax for that income year.
45-355(2)
The Commissioner may work out your *benchmark tax for an income year (the variation year ) if, under paragraph 45-115(1)(c) , you estimate the amount of your annual instalment for that year.
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