Taxation Administration Act 1953
Note: See section 3AA .Chapter 2 - Collection, recovery and administration of income tax
You are a quarterly payer who pays 2 instalments annually on the basis of GDP-adjusted notional tax if, at the end of the *starting instalment quarter in an income year, you are an individual that is a *quarterly payer who pays on the basis of GDP-adjusted notional tax and one or more of the following paragraphs apply:
(a) both of the following conditions are satisfied:
(i) you are carrying on a *primary production business in the income year;
(ii) the assessable income that was *derived from, or resulted from, a primary production business that you carried on in the *base year exceeded the amount of so much of your deductions in that year that are reasonably related to that income;
(b) both of the following conditions are satisfied:
(i) you are a *special professional in the income year;
(ii) your *assessable professional income in the base year exceeded the amount of so much of your deductions in that year that are reasonably related to that income.
This section may apply to you if you are a multi-rate trustee. See section 45-468 .How and when you become such a payer 45-134(2)
You become such a payer just before the end of the *starting instalment quarter if subsection (1) is satisfied. How and when you stop being such a payer 45-134(3)
You stop being a *quarterly payer who pays 2 instalments annually 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 subsection (1) at the end of that quarter. 45-134(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.
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