Tax Laws Amendment (2013 Measures No. 2) Act 2013 (124 of 2013)

Schedule 1   Monthly PAYG instalments

Part 1   Main amendments

Taxation Administration Act 1953

26   Before section 45-705 in Schedule 1

Insert:

45-703 Effect of this Subdivision and Subdivision 45-R in relation to monthly payers

(1) If:

(a) a company is the *head company of a *consolidated group; and

(b) the company is a *monthly payer;

this Subdivision and Subdivision 45-R have effect in relation to the company as the head company of the group in respect of an *instalment month in the same way in which they have effect in relation to a company that is a *quarterly payer as the head company of a consolidated group in respect of an *instalment quarter.

(2) If:

(a) an entity is a *subsidiary member of a *consolidated group; and

(b) the entity is a *monthly payer;

this Subdivision and Subdivision 45-R have effect in relation to the entity in respect of an *instalment month in the same way in which they have effect in relation to an entity that is a *quarterly payer in respect of an *instalment quarter.

(3) However, those effects are subject to any modifications set out in those Subdivisions.

Note: Subdivision 45-S can also have effect in relation to a monthly payer because of the operation of this section and section 45-910.