FRINGE BENEFITS TAX ASSESSMENT ACT 1986

PART VII - COLLECTION AND RECOVERY OF TAX  

Division 2 - Collection by instalments  

Subdivision C - Working out the amount of instalments  

SECTION 109   109   INTERPRETATION  


In this Subdivision:

"employer ' s estimate"
, in relation to an employer, in relation to an instalment of tax in relation to a year of tax, means the amount shown in a statement by the employer under subsection 112(1) in relation to the instalment as the employer ' s estimate of the tax that will be payable by the employer in respect of the year of tax;

"estimated tax"
, in relation to an employer in relation to a year of tax, means the amount determined, or last determined, as the case requires, under subsection 112(2) or (3) as the estimated tax of the employer in respect of the year of tax;

GIC period
, in relation to an instalment in relation to a year of tax, has the meaning given by the following table:


GIC period
Item For this instalment in that year of tax: GIC period is this period if this instalment is due and payable under subsection 103(1): GIC period is this period if this instalment is due and payable under subsection 103(2):
1 first instalment the period starting at the beginning of 21 July, and finishing at the end of 20 October, in the year of tax the period starting at the beginning of 28 July, and finishing at the end of 27 October, in the year of tax
2 second instalment the period starting at the beginning of 21 October, and finishing at the end of 20 January, in the year of tax the period starting at the beginning of 28 October, and finishing at the end of 27 February, in the year of tax
3 third instalment the period starting at the beginning of 21 January in the year of tax and finishing at the end of 20 April in the next year of tax the period starting at the beginning of 28 February in the year of tax and finishing at the end of 27 April in the next year of tax
4 fourth instalment the period starting at the beginning of 21 April, and finishing at the end of 20 May, in the next year of tax the period starting at the beginning of 28 April, and finishing at the end of 20 May, in the next year of tax

"penalty period"
(Repealed by Act No 11 of 1999)

relevant fraction
, in relation to an instalment, means:


(a) 0.25 for a first instalment; or


(b) 0.50 for a second instalment; or


(c) 0.75 for a third instalment; or


(d) 1.00 for a fourth instalment.




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