Taxation Administration Act 1953
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Hide history noteNote: See section 3AA .
Chapter 2 - Collection, recovery and administration of income taxYou are a quarterly payer who pays 2 instalments annually on the basis of GDP-adjusted notional tax if, at the end of the *starting instalment quarter in an income year, you are an individual that is a *quarterly payer who pays on the basis of GDP-adjusted notional tax and one or more of the following paragraphs apply:
(a) both of the following conditions are satisfied:
(i) you are carrying on a *primary production business in the income year;
(ii) the assessable income that was *derived from, or resulted from, a primary production business that you carried on in the *base year exceeded the amount of so much of your deductions in that year that are reasonably related to that income;
(b) both of the following conditions are satisfied:
(i) you are a *special professional in the income year;
(ii) your *assessable professional income in the base year exceeded the amount of so much of your deductions in that year that are reasonably related to that income.
Note:
This section may apply to you if you are a multi-rate trustee. See section 45-468 .
How and when you become such a payer
45-134(2)
You become such a payer just before the end of the *starting instalment quarter if subsection (1) is satisfied.
How and when you stop being such a payer
45-134(3)
You stop being a *quarterly payer who pays 2 instalments annually 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 subsection (1) at the end of that quarter.
45-134(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.
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