A New Tax System (Goods and Services Tax) Act 1999
Note:Division 162 - Payment of GST by instalments Subdivision 162-B - Consequences of electing to pay GST by instalments 162-80 Certain entities pay only 2 GST instalments for each year (1)
(a) you are a * GST instalment payer for an * instalment tax period ; and
(b) subsection (2) applies to you;
section 162-70 has effect as if you are only required to pay *GST instalments for the last 2 * GST instalment quarters for the instalment tax period.(2)
This subsection applies to you if:
(a) both of the following conditions are satisfied:
(i) you are carrying on a * primary production business in an * income year corresponding to, or ending during, the * instalment tax period ;
(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; or
(b) both of the following conditions are satisfied:
(i) you are a * special professional in an income year corresponding to, or ending during, the instalment tax period;
(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.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.