A New Tax System (Pay As You Go) Act 1999 (178 of 1999)

Schedule 2   Running balance accounts, general interest charge and related matters

Part 3   Fringe benefits tax

Fringe Benefits Tax Assessment Act 1986

126   Section 109 (definition of GIC period )

Repeal the definition, substitute:

GIC period , in relation to an instalment in relation to a year of tax, means:

(a) for a first instalment - the period starting at the beginning of 21 July, and finishing at the end of 20 October, in the year of tax; or

(b) for a second instalment - the period starting at the beginning of 21 October, and finishing at the end of 20 January, in the year of tax; or

(c) for a third instalment - the period starting at the beginning of 21 January in the year of tax and finishing at the end of 20 April in the next year of tax; or

(d) for a fourth instalment - the period starting at the beginning of 21 April, and finishing at the end of 20 May, in the next year of tax.