TAXATION ADMINISTRATION ACT 1953
Note: See section 3AA .Chapter 2 - Collection, recovery and administration of income tax
Work out the amount of an instalment you are liable to pay for an *instalment quarter as follows if, at the end of that instalment quarter, you are a *quarterly payer who pays on the basis of instalment income:
Applicable instalment rate × Your *instalment income for that quarter
For the purposes of the formula in subsection (1):
(a) unless paragraph (b) or (c) applies - the most recent instalment rate given to you by the Commissioner under section 45-15 before the end of that quarter; or
(b) if you have chosen an instalment rate for that quarter under section 45-205 - that rate; or
(c) if you have chosen an instalment rate under section 45-205 for an earlier *instalment quarter in that income year (and paragraph (b) does not apply) - that rate.
If you believe the Commissioner ' s rate is not appropriate for the current income year, you may choose a different instalment rate under Subdivision 45-F .