Taxation Administration Act 1953
SCHEDULE 1
-
COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
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:
(c) you satisfy all of the following conditions:
(d) for the 2009-10 income year or a later income year - you are one of the following kinds of entity (an eligible business entity ):
45-130(1A)
An entity is covered by this subsection for an income year if: (a) the entity is not a *small business entity (other than because of subsection 328-110(4) of the Income Tax Assessment Act 1997 ) for the income year; and (b) the entity would be such a small business entity for the income year if:
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 an eligible business entity 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 an eligible business entity 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:
(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.
View history note
Hide history noteNote: See section 3AA .
Chapter 2 - Collection, recovery and administration of income taxYou 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 one of the following kinds of entity (an eligible business entity ):
(i) a *small business entity (other than because of subsection 328-110(4) of the Income Tax Assessment Act 1997 );
(ii) an entity covered by subsection (1A) of this section.
Note:
Paragraph (a) may apply to you if you are a multi-rate trustee. See section 45-468 .
45-130(1A)
An entity is covered by this subsection for an income year if: (a) the entity is not a *small business entity (other than because of subsection 328-110(4) of the Income Tax Assessment Act 1997 ) for the income year; and (b) the entity would be such a small business entity for the income year if:
(i) each reference in Subdivision 328-C (about what is a small business entity) of that Act to $10 million were instead a reference to $50 million; and
(ii) the reference in paragraph 328-110(5)(b) of that Act to a small business entity were instead a reference to an entity covered by this subsection.
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 an eligible business entity 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 an eligible business entity 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.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.