A New Tax System (Tax Administration) Act 1999 (179 of 1999)

Schedule 10   Pay as you go (PAYG) system of collecting income tax etc. liabilities

Part 1   Amendment of the Taxation Administration Act 1953

8   At the end of section 45-125 in Schedule 1

Add:

(4) You stop being such a payer at the start of the next income year (or earlier under section 45-130). However, you may again become such a payer if:

(a) you again satisfy the conditions in subsection (1) of this section; and

(b) you again choose under that subsection to pay quarterly instalments on the basis of your *GDP-adjusted notional tax.

Note: You can so choose on or before the day on which your first instalment for that next income year is due.