Taxation Laws Amendment Act (No. 1) 1999 (16 of 1999)

Schedule 5   Payments of tax by small companies

Income Tax Assessment Act 1936

13   After subsection 221AZK(3)

Insert:

(3A) A small taxpayer whose assessed tax for the current year is more than $300,000 must pay an instalment on the first day of month 18 equal to 100% of the assessed tax for the current year.