Taxation Administration Act 1953
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Hide history noteNote: See section 3AA .
Chapter 2 - Collection, recovery and administration of income taxSECTION 45-530 HOW COMMISSIONER WORKS OUT BENCHMARK INSTALMENT RATE 45-530(1)
Your benchmark instalment rate for the variation year is the percentage worked out to 2 decimal places (rounding up if the third decimal place is 5 or more) using the formula:
| Your *benchmark tax | × | 100 | |
| Variation year instalment income |
However, your benchmark instalment rate is a nil rate if either component of the formula is nil.
45-530(2)
For the purposes of the formula in subsection (1):
variation year instalment income
means so much of the trust
'
s assessable income for the variation year as the Commissioner determines is *instalment income for that year.
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