Tax Laws Amendment (2013 Measures No. 2) Act 2013 (124 of 2013)

Schedule 1   Monthly PAYG instalments

Part 1   Main amendments

Taxation Administration Act 1953

13   Subsection 45-125(5) in Schedule 1

Repeal the subsection, substitute:

How and when you stop being such a payer

(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

(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.