Taxation Administration Act 1953
View history note
Hide history noteNote: See section 3AA .
Chapter 2 - Collection, recovery and administration of income taxYou may choose an instalment rate for working out under section 45-110 the amount of your instalment for an *instalment quarter in an income year.
45-205(2)
If you do so, you must use that instalment rate to work out the amount of that instalment. (You cannot later choose another instalment rate for working out that amount.)
Note 1:
If choosing a rate leads you to pay an instalment that is too low, you may be liable to general interest charge under section 45-230 .
Note 2:
If you choose a rate under this section, you must use it even if the Commissioner later gives you a new instalment rate.
45-205(3)
You must also use that instalment rate to work out the amount of the instalment that you are liable to pay for each later *instalment quarter in that income year, unless you choose another instalment rate under subsection (1) for working out that amount.
Note 1:
If you choose a rate under this section, you must use it even if the Commissioner later gives you a new instalment rate.
Note 2:
If a rate you have chosen for an instalment quarter is not appropriate for a later instalment quarter in the same income year, you should choose another rate under subsection (1) for the later quarter. If the earlier rate is too low, you may be liable to general interest charge under section 45-230 .
45-205(4)
However, for working out under section 45-110 the amount of your instalment for an *instalment quarter in a later income year, you must use the most recent instalment rate given to you by the Commissioner before the end of that quarter, unless you again choose another instalment rate under subsection (1).
45-205(5)
Subsection (6) applies if you are a monthly payer.
45-205(6)
Treat the references in subsections (1) and (4) to section 45-110 as instead being references to section 45-114 .
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
