New Business Tax System (Consolidation) Act (No. 1) 2002 (68 of 2002)

Schedule 4   Amendments about Pay as you go (PAYG) instalments

Part 2   Consequential amendments

Taxation Administration Act 1953

9   After subsection 45-230(2) in Schedule 1

Insert:

(2A) If the variation quarter is in a *consolidation transitional year for you as a *subsidiary member of a *consolidated group, a reference in subsection (2) to:

(a) your *instalment income for the variation quarter; or

(b) your instalment income for the earlier instalment quarters in the income year;

is taken to be a reference to so much of that income as is reasonably attributable to the period in that quarter or those quarters (as appropriate) during which you are not a subsidiary member of the group.