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 45-125   QUARTERLY PAYER WHO PAYS INSTALMENTS ON THE BASIS OF INSTALMENT INCOME  

45-125(1)    
You are a quarterly payer who pays on the basis of instalment income if:

(a) at the end of the *starting instalment quarter in an income year, you are not a *quarterly payer who pays on the basis of GDP-adjusted notional tax and you are not a *monthly payer or an *annual payer; or

(b) but for this section, you would be a quarterly payer who pays on the basis of GDP-adjusted notional tax at the end of the starting instalment quarter in an income year but you choose to pay quarterly instalments on the basis of your instalment income.

Note:

The entity must make the choice mentioned in paragraph (b) in accordance with subsection (4).

45-125(2)    

The starting instalment quarter in an income year (the current year ) is:

(a) if the Commissioner gives you an instalment rate for the first time during an *instalment quarter in the current year - that instalment quarter (even if it is not the first instalment quarter in the current year); or

(b) if the Commissioner has given you an instalment rate during a previous income year and your instalment rate has not been withdrawn - the first instalment quarter in the current year.

(c) (Repealed by No 78 of 2005)

How and when you become such a payer

45-125(3)    
You become a *quarterly payer who pays on the basis of instalment income just before the end of the *starting instalment quarter if paragraph (1)(a) or (b) is satisfied.

45-125(4)    

You must make the choice mentioned in paragraph (1)(b) by notifying the Commissioner in the *approved form on or before the day on which the instalment for that quarter is due (disregarding subsection 45-112(3) ).

How and when you stop being such a payer

45-125(5)    

If you are a *quarterly payer who pays on the basis of instalment income because of paragraph (1)(a), 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 GDP-adjusted notional tax; 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

45-125(5A)    

Despite subsections (1) and (3), you cannot be a *quarterly payer who pays on the basis of instalment income 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.

45-125(6)    
If you are a *quarterly payer who pays on the basis of instalment income because of paragraph (1)(b), you stop being such a payer at the start of the first *instalment quarter in the next income year if:

(a) you become an *annual payer at the end of that quarter; or

(b) both of the following conditions apply:

(i) you choose not to be a quarterly payer who pays on the basis of instalment income;

(ii) you become a *quarterly payer who pays on the basis of GDP-adjusted notional tax at the end of that quarter.

45-125(7)    

You may only make the choice mentioned in paragraph (6)(b) if you would otherwise satisfy paragraph 45-130(1)(a), (b), (c) or (d) at the end of that quarter. You must make that choice by notifying the Commissioner in the *approved form on or before the day on which the instalment for that quarter is due (disregarding subsection 45-112(3) ).