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-D - Quarterly payers  

SECTION 45-130   QUARTERLY PAYER WHO PAYS ON THE BASIS OF GDP-ADJUSTED NOTIONAL TAX  

45-130(1)  
You are a quarterly payer who pays on the basis of GDP-adjusted notional tax if, at the end of the *starting instalment quarter in an income year:


(a) you are an individual who is not an *annual payer, a *monthly payer or a *quarterly payer who pays on the basis of instalment income; or


(b) you are a *self-assessment entity:


(i) that is not an *annual payer or a *quarterly payer who pays on the basis of instalment income; and

(ii) your base assessment instalment income (within the meaning of section 45-320 ) for the *base year is $2 million or less; or


(c) you satisfy all of the following conditions:


(i) you are a self-assessment entity whose base assessment instalment income (within the meaning of section 45-320 ) for the *base year is more than $2 million;

(ii) you are not an annual payer, but you satisfy the conditions set out in subsection 45-140(1) for an annual payer;

(iia) you are not a *monthly payer;

(iii) you are not a quarterly payer who pays on the basis of instalment income; or


(d) for the 2009-10 income year or a later income year - you are a *small business entity (other than because of subsection 328-110(4) of the Income Tax Assessment Act 1997 ).

Note:

Paragraph (a) may apply to you if you are a multi-rate trustee. See section 45-468 .

How and when you become such a payer

45-130(2)  


You become such a payer just before the end of the *starting instalment quarter if paragraph (1)(a), (b), (c) or (d) is satisfied.

45-130(2A)  


For the purposes of subsection (2), you satisfy proposed paragraph (1)(d) at the end of the *starting instalment quarter in an income year if you are a *small business entity (other than because of subsection 328-110(4) of the Income Tax Assessment Act 1997 ) for the income year that includes that instalment quarter. How and when you stop being such a payer

45-130(3)  


You stop being a *quarterly payer who pays on the basis of GDP-adjusted notional tax at the start of the first *instalment quarter in the next income year if you fail to satisfy paragraph (1)(a), (b), (c) or (d) at the end of that quarter.

45-130(3A)  


For the purposes of subsection (3), you fail to satisfy proposed paragraph (1)(d) at the end of the first *instalment quarter in an income year if you are not a *small business entity (other than because of subsection 328-110(4) of the Income Tax Assessment Act 1997 ) for the income year that includes that instalment quarter.

45-130(4)  


In addition, you stop being such a payer at the start of the first *instalment quarter in the next income year if:


(a) at the end of that quarter, you become:


(i) a *quarterly payer who pays on the basis of instalment income; or

(ii) an *annual payer; or


(b) at the end of the first *instalment month of that quarter, you become a *monthly payer.

No quarterly payer status in quarter if monthly payer in following month

45-130(5)  


Despite subsections (1) and (2), you cannot be a *quarterly payer who pays on the basis of GDP-adjusted notional tax at a time in an *instalment quarter if you are a *monthly payer at a time in the first *instalment month that ends after that quarter.

 

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