INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VI - COLLECTION AND RECOVERY OF TAX  

Division 1AAA - Payment of RPS, PAYE and PPS deductions to Commissioner  

Subdivision B - Large remitters  

SECTION 220AAB   WHO IS A LARGE REMITTER - GENERAL  

220AAB(1)   General rule.  

Subject to this section, a person is a large remitter in relation to a particular month if any of the following paragraphs applies:


(a) the total of the deductions that the person makes under Divisions 1AA, 2 and 3A for the financial year ending on 30 June 1997 exceeded $1 million;


(b) both of the following subparagraphs apply:


(i) at the end of the financial year (the 1996-97 year ) ending on 30 June 1997, the person was included in a company group;

(ii) the total of the deductions under Divisions 1AA, 2 and 3A, for the 1996-97 year, of the persons that were included in that company group at the end of the 1996-97 year exceeded $1 million;


(c) the total of the deductions that the person makes under Divisions 1AA, 2 and 3A for any financial year ending on or after 30 June 1998 and before that month exceeded $1 million;


(d) both of the following subparagraphs apply:


(i) at the end of any financial year (the threshold year ) ending on or after 30 June 1998 and before that month, the person was included in a company group;

(ii) the total of the deductions under Divisions 1AA, 2 and 3A, for the threshold year, of the persons that were included in that company group at the end of the threshold year exceeded $1 million;
Note:

Company group is defined in section 220AAI .


(e) that month is covered by a notice in force under section 220AAC ;

and that month is not covered by a notice in force under subsection (3).

220AAB(2)   Not large remitter before certain times.  

A person:


(a) is not a large remitter in relation to any month before July 1998; and


(b) is not a large remitter in relation to July or August 1998 unless the person is covered by paragraph (1)(a) or (b); and


(c) is not a large remitter because of paragraph (1)(c) or (d) in relation to July or August in a later financial year unless the person was a large remitter in relation to June of the previous financial year.

220AAB(3)   Commissioner's determination that person not a large remitter.  

The Commissioner may, by notice in writing served on a person who would otherwise be a large remitter:


(a) determine that the person is not a large remitter in relation to:


(i) a month or months specified in the notice; or

(ii) all months after and including a month specified in the notice; and


(b) revoke or vary any such determination.

Note:

A person who is not a large remitter because of this subsection will generally be a medium remitter: see paragraph 220AAJ(1)(d) .

220AAB(4)   [Notice to be served by beginning of month]  

A notice under subsection (3) does not have effect in relation to a particular month unless the notice was served before the beginning of the month.


 

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