Taxation Administration Act 1953

s 18-135 — Associates of directors of non ‑ complying companies

Liability to pay PAYG withholding non ‑ compliance tax (1) An individual must pay * PAYG withholding non ‑ compliance tax in relation to a company for an income year of the individual if: (a) at a time when another individual (the director ) was a director (within the meaning of the Corporations Act 2001 ) of the company, the first individual was an * associate of the director; and (b) the company was required to pay to the Commissioner under subsection 16 ‑ 70(1) in this Schedule amounts: (i) the company withheld from * withholding payments the company made to any entities during the income year of the individual; and (ii) to which subsection (2) of this section applies; and (c) the company did not pay the total of those amounts to the Commissioner on or before the last day (the non ‑ compliance day ) on or before which the company was required to pay any of those amounts to the Commissioner in accordance with subsection 16 ‑ 70(1); and (d) subsection (3) or (6) of this section applies; and (e) a credit to which the individual is entitled under section 18 ‑ 15 is attributable to an extent to * amounts withheld by the company under Division 12 from withholding payments made to the individual during the income year of the individual. Note: For the purposes of paragraph (1)(e), it does not matter whether the company pays the amounts withheld from the withholding payments made to the individual to the Commissioner under subsection 16 ‑ 70(1). (2) This subsection applies to * amounts withheld that the company was required to pay to the Commissioner on or before a particular day (the payment day ) under subsection 16 ‑ 70(1), if: (a) all of the following subparagraphs apply: (i) the director was a director (within the meaning of the Corporations Act 2001 ) of the company on the payment day; (ii) the individual was an * associate of the director on the payment day; (iii) the company did not pay the total of those amounts to the Commissioner in accordance with subsection 16 ‑ 70(1) on or before the payment day; or (b) all of the following subparagraphs apply: (i) the director became a director of the company after the payment day; (ii) the director was still a director of the company 30 days after becoming a director; (iii) the individual was an * associate of the director throughout that 30 day period; (iv) the company did not pay the total of those amounts to the Commissioner in accordance with subsection 16 ‑ 70(1) on or before the last of those 30 days. (3) This subsection applies if the Commissioner is satisfied that: (a) because of: (i) the individual’s relationship with the director; or (ii) a relationship of the individual with the company; the individual knew, or could reasonably have been expected to know, of the company’s failure to pay the total of the amounts mentioned in paragraph (1)(c) to the Commissioner; and (b) none of the following subparagraphs applies: (i) the individual took all reasonable steps to influence the director to cause the company to notify the Commissioner under Subdivision 18 ‑ C of the relevant * amounts withheld; (ii) the individual took all reasonable steps to influence the director to cause one of the events mentioned in subsection (4) to happen, or there were no reasonable steps the individual could have taken to influence the director to cause any of those events to happen; (iii) the individual reported the company’s non ‑ payment to the Commissioner or to another authority with responsibilities relevant to the operation of the company. Example: Other authorities with responsibilities relevant to the operation of the company could include the Minister, the police, ASIC or the Building and Construction Industry Commissioner. (4) The following are the events: (a) the company pays the total of the amounts mentioned in paragraph (1)(c) to the Commissioner; (b) an administrator of the company is appointed under section 436A, 436B or 436C of the Corporations Act 2001 ; (ba) a small business restructuring practitioner for the company is appointed under section 453B of that Act; (c) the company begins to be wound up (within the meaning of that Act). (5) In determining what are reasonable steps for the purposes of paragraph (3)(b), have regard to: (a) when, and for how long, the individual was an * associate of the director; and (b) when, and for how long, the director was a director and took part in the management of the company; and (c) all other relevant circumstances. (6) This subsection applies if: (a) the individual was an employee of the company; and (b) the Commissioner is satisfied that the company treated the individual more favourably than it treated other employees of the company. Amount of tax (7) The amount of the * PAYG withholding non ‑ compliance tax the individual must pay is the lesser of: (a) the extent of the credit mentioned in paragraph (1)(e); and (b) the total amount the company did not pay to the Commissioner as mentioned in paragraph (1)(c).

Amendment history: Inserted by No 99 of 2012, effective sch 1 (items 1 ‑ 9, 12 ‑ 15, 23, 36 ‑ 47, 49 ‑ 57): 30 June 2012 (s 2(1) items 2 ‑ 5) | Amended by No 8 of 2019, effective sch 1 (items 1 ‑ 5, 7, 8), sch 2, sch 3 (items 2 ‑ 10), sch 4 (items 1 ‑ 7, 18), sch 5, sch 7 (item 2), sch 8 (items 9 ‑ 11, 16 ‑ 19, 48 ‑ 63): 1 Apr 2019 (s 2(1) items 2, 3, 5, 7, 11) sch 3 (items 11 ‑ 16): 23 June 2020 (s 2(1) item 4) sch 6 (items 3, 4): 1 July 2018 (s 2(1) item 6) | Amended by No 130 of 2020, effective sch 1 (items 118 ‑ 127): 1 Jan 2021 (s 2(1) item 2)

s 18-140 — Notices

Notices (1) The Commissioner must not commence proceedings to recover: (a) the * PAYG withholding non ‑ compliance tax an individual must pay for an income year in relation to a company as mentioned in section 18 ‑ 125 or 18 ‑ 135; or (b) any related * general interest charge payable under section 18 ‑ 150; unless, after the non ‑ compliance day mentioned in section 18 ‑ 125 or 18 ‑ 135, the Commissioner gives a written notice to the individual under this section. (2) The Commissioner may only give the notice if the Commissioner is satisfied, on the basis of information available to the Commissioner, that it is fair and reasonable for the individual to pay * PAYG withholding non ‑ compliance tax in relation to the company for the income year. (3) The Commissioner must not give the notice on a day if, on that day: (a) the individual; or (b) in a case to which section 18 ‑ 135 applies—the director mentioned in that section; is liable to pay to the Commissioner a penalty under Division 269 because the company has not complied with the obligation mentioned in item 1 of the table in subsection 269 ‑ 10(1) to pay to the Commissioner an * amount withheld to which paragraph 18 ‑ 125(1)(b) or 18 ‑ 135(1)(b) applies. (4) The notice must specify: (a) the company; and (b) the income year; and (c) the amount of the * PAYG withholding non ‑ compliance tax the individual must pay. Effect of compliance between non ‑ compliance day and notice day (5) Subsections (6) and (7) apply if: (a) the company’s liability to pay the total of the amounts mentioned in paragraph 18 ‑ 125(1)(c) or 18 ‑ 135(1)(c) to the Commissioner is discharged to any extent during the period: (i) starting on the day after the non ‑ compliance day; and (ii) ending on the day before the day the Commissioner gives the notice under this section to the individual; and (b) had all discharges of the company’s liability occurring during that period occurred before the non ‑ compliance day: (i) the individual would not have been required to pay the * PAYG withholding non ‑ compliance tax in relation to the company for the income year; or (ii) the amount of PAYG withholding non ‑ compliance tax the individual would have been required to pay would have been less than the actual amount of PAYG withholding non ‑ compliance tax. (6) The amount of the * PAYG withholding non ‑ compliance tax the individual must pay is reduced: (a) in a case to which subparagraph (5)(b)(i) applies—to nil; or (b) otherwise—to the amount of PAYG withholding non ‑ compliance tax the individual would have been required to pay as mentioned in subparagraph (5)(b)(ii). (7) The amount of the * PAYG withholding non ‑ compliance tax the individual must pay is treated as always having been that amount as reduced under subsection (6).

Amendment history: Inserted by No 99 of 2012, effective sch 1 (items 1 ‑ 9, 12 ‑ 15, 23, 36 ‑ 47, 49 ‑ 57): 30 June 2012 (s 2(1) items 2 ‑ 5)

s 18-145 — When PAYG withholding non ‑ compliance tax must be paid

(1) The * PAYG withholding non ‑ compliance tax an individual must pay for an income year is due and payable at the earliest time any of the income tax the individual must pay for the * financial year to which the income year relates is due and payable. Note: Division 5 of the Income Tax Assessment Act 1997 explains how to work out when to pay your income tax. (2) For the purposes of subsection (1), if the individual is not required to pay income tax for the * financial year: (a) treat the individual as being required to pay income tax for the financial year; and (b) if the Commissioner has made an assessment that the income tax the individual is required to pay is nil—treat that assessment as being for an amount greater than nil. Note: See Part 4 ‑ 15 in this Schedule for collection and recovery provisions.

Amendment history: Inserted by No 99 of 2012, effective sch 1 (items 1 ‑ 9, 12 ‑ 15, 23, 36 ‑ 47, 49 ‑ 57): 30 June 2012 (s 2(1) items 2 ‑ 5)

s 18-150 — General interest charge payable on unpaid PAYG withholding non ‑ compliance tax

If an amount of * PAYG withholding non ‑ compliance tax that an individual must pay to the Commissioner remains unpaid after the time by which it is due to be paid, the individual is liable to pay * general interest charge on the unpaid amount of tax for each day in the period that: (a) started at the beginning of the day by which the unpaid amount of tax was due to be paid; and (b) finishes at the end of the last day, at the end of which, any of the following remains unpaid: (i) the unpaid amount of tax; (ii) general interest charge on any of the unpaid amount of tax.

Amendment history: Inserted by No 99 of 2012, effective sch 1 (items 1 ‑ 9, 12 ‑ 15, 23, 36 ‑ 47, 49 ‑ 57): 30 June 2012 (s 2(1) items 2 ‑ 5)

s 18-155 — Validity of decisions and evidence

Section 175 of the Income Tax Assessment Act 1936 (validity) applies to a decision of the Commissioner under section 18 ‑ 140 in this Schedule in the same way as it applies to an assessment.

Amendment history: Inserted by No 99 of 2012, effective sch 1 (items 1 ‑ 9, 12 ‑ 15, 23, 36 ‑ 47, 49 ‑ 57): 30 June 2012 (s 2(1) items 2 ‑ 5) | Amended by No 2 of 2015, effective sch 2 (items 8 ‑ 20, 72, 73, 90 ‑ 99), sch 4 (items 75 ‑ 79): 25 Feb 2015 (s 2(1) items 3, 5, 6) sch 2 (items 66 ‑ 71): 1 July 2015 (s 2(1) item 4)

s 18-160 — Rights of indemnity and contribution

(1) This section applies if an individual must pay * PAYG withholding non ‑ compliance tax as mentioned in section 18 ‑ 125 or 18 ‑ 135 because a company did not pay an amount to the Commissioner as mentioned in paragraph 18 ‑ 125(1)(c) or 18 ‑ 135(1)(c). (2) The individual has the same rights (whether by way of indemnity, subrogation, contribution or otherwise) against the company or anyone else as if: (a) the individual had made a payment equal to the amount of the * PAYG withholding non ‑ compliance tax under a guarantee of the liability of the company to pay the amount to the Commissioner; and (b) under the guarantee: (i) the individual; and (ii) every individual to whom subsection (3) applies; were jointly and severally liable as guarantors (but only, in the case of an individual to whom subparagraph (ii) of this paragraph applies, to the extent to which subsection (3) applies to the individual); and (c) any credit to which the individual mentioned in subsection (1) is entitled under section 18 ‑ 170 or 18 ‑ 175 in relation to the amount of PAYG withholding non ‑ compliance tax were a repayment of the payment mentioned in paragraph (a) of this subsection. (3) This subsection applies to an individual to the extent that: (a) the individual was a director (within the meaning of the Corporations Act 2001 ) of the company on the day (the payment day ) on or by which the company was required to pay the amount mentioned in subsection (1) to the Commissioner; or (b) both of the following subparagraphs apply: (i) the individual became a director of the company after the payment day; (ii) the individual was still a director of the company 30 days after becoming a director. (4) However, subsection (3) does not apply to an individual to the extent that the amount of the * PAYG withholding non ‑ compliance tax the individual must pay in relation to the company for the income year as mentioned in section 18 ‑ 125 is reduced under section 18 ‑ 130.

Amendment history: Inserted by No 99 of 2012, effective sch 1 (items 1 ‑ 9, 12 ‑ 15, 23, 36 ‑ 47, 49 ‑ 57): 30 June 2012 (s 2(1) items 2 ‑ 5)

s 18-165 — Credits for later compliance—scope

Sections 18 ‑ 170, 18 ‑ 175 and 18 ‑ 180 apply if: (a) an individual must pay * PAYG withholding non ‑ compliance tax in relation to a company for an income year because the company did not pay to the Commissioner the total of the amounts mentioned in paragraph 18 ‑ 125(1)(c) or 18 ‑ 135(1)(c); and (b) the Commissioner gives to the individual a notice under section 18 ‑ 140 on a particular day (the tax notice day ) in relation to the PAYG withholding non ‑ compliance tax the individual must pay; and (c) on or after the tax notice day, the company’s liability to pay the total of the amounts to the Commissioner is discharged to any extent.

Amendment history: Inserted by No 99 of 2012, effective sch 1 (items 1 ‑ 9, 12 ‑ 15, 23, 36 ‑ 47, 49 ‑ 57): 30 June 2012 (s 2(1) items 2 ‑ 5)

s 18-170 — Credits for later compliance—Commissioner must give notice in certain circumstances

Commissioner must give notice to director or associate in certain circumstances (1) The Commissioner must give a written notice to the individual on a particular day (the credit notice day ) if, had the discharge mentioned in paragraph 18 ‑ 165(c) (and all previous discharges of the company’s liability mentioned in that paragraph) occurred before the tax notice day: (a) the individual would not have been required to pay the * PAYG withholding non ‑ compliance tax in relation to the company for the income year; or (b) the amount of PAYG withholding non ‑ compliance tax the individual would have been required to pay would have been less than the actual amount of PAYG withholding non ‑ compliance tax. Note 1: Subsection 18 ‑ 180(2) provides that the Commissioner must not give a notice to the individual in certain circumstances. Note 2: The amount of PAYG withholding non ‑ compliance tax may be limited by: (a) the conditions in subsections 18 ‑ 125(1) and (2) or 18 ‑ 135(1) to (6); or (b) the limits on the amount of the tax in subsection 18 ‑ 125(3) or 18 ‑ 135(7). Note 3: In working out the actual amount of the tax for the purposes of paragraph (1)(b), have regard to other credits to which the individual is entitled under this section or section 18 ‑ 175. See subsection 18 ‑ 180(1). Director or associate entitled to credit if Commissioner gives notice (2) The individual is entitled to a credit if the Commissioner gives a written notice to the individual under subsection (1). (3) The individual becomes entitled to the credit on the day the Commissioner gives the notice to the individual. Amount of credit (4) The amount of the credit is the amount stated in the notice. (5) In a case to which paragraph (1)(a) applies, the amount stated must be the amount of the * PAYG withholding non ‑ compliance tax. (6) In any other case, the amount stated: (a) must not exceed the amount of the * PAYG withholding non ‑ compliance tax; and (b) must not exceed the amount of the discharge mentioned in paragraph 18 ‑ 165(c); and (c) must not be less than the amount by which: (i) the amount of the PAYG withholding non ‑ compliance tax; exceeds (ii) the amount that would have been the amount of the PAYG withholding non ‑ compliance tax had the discharge mentioned in paragraph 18 ‑ 165(c) (and all previous discharges of the company’s liability mentioned in that paragraph) occurred before the tax notice day. (7) In determining the amount to state in the notice in a case to which paragraph (1)(a) does not apply, the Commissioner must have regard to what is fair and reasonable in the circumstances.

Amendment history: Inserted by No 99 of 2012, effective sch 1 (items 1 ‑ 9, 12 ‑ 15, 23, 36 ‑ 47, 49 ‑ 57): 30 June 2012 (s 2(1) items 2 ‑ 5)

s 18-175 — Credits for later compliance—Commissioner may give notice

Commissioner may give notice to director or associate (1) The Commissioner may give a written notice to the individual on a particular day (the credit notice day ). Note: Subsection 18 ‑ 180(2) provides that the Commissioner must not give a notice to the individual in certain circumstances. Director or associate entitled to credit if Commissioner gives notice (2) The individual is entitled to a credit if the Commissioner gives a written notice to the individual under subsection (1). (3) The individual becomes entitled to the credit on the day the Commissioner gives the notice to the individual. Amount of credit (4) The amount of the credit is the amount stated in the notice. (5) The amount stated: (a) must not exceed the amount of the * PAYG withholding non ‑ compliance tax; and Note: In working out the amount of the tax for the purposes of paragraph (5)(a), have regard to other credits to which the individual is entitled under section 18 ‑ 170 or this section. See subsection 18 ‑ 180(1). (b) must not exceed the amount of the discharge mentioned in paragraph 18 ‑ 165(c). Commissioner’s discretion (6) In determining: (a) whether to give a notice under this section; or (b) the amount to state in the notice; the Commissioner must have regard to what is fair and reasonable in the circumstances.

Amendment history: Inserted by No 99 of 2012, effective sch 1 (items 1 ‑ 9, 12 ‑ 15, 23, 36 ‑ 47, 49 ‑ 57): 30 June 2012 (s 2(1) items 2 ‑ 5)

s 18-180 — Effect of earlier credits

(1) A reference in section 18 ‑ 170 or 18 ‑ 175, or subsection (2) of this section, to the amount of the * PAYG withholding non ‑ compliance tax is treated as being a reference to: (a) the amount of the PAYG withholding non ‑ compliance tax; less Note: The amount of the PAYG withholding non ‑ compliance tax may, in a case to which section 18 ‑ 125 applies, be affected by reductions under section 18 ‑ 130. (b) the total of any credits to which the individual is entitled in relation to the amount of PAYG withholding non ‑ compliance tax because of notices given to the individual under section 18 ‑ 170 or 18 ‑ 175 before the credit notice day. (2) The Commissioner must not give a written notice to the individual under section 18 ‑ 170 or 18 ‑ 175 if, on the day before the credit notice day, the amount of the * PAYG withholding non ‑ compliance tax is nil.

Amendment history: Inserted by No 99 of 2012, effective sch 1 (items 1 ‑ 9, 12 ‑ 15, 23, 36 ‑ 47, 49 ‑ 57): 30 June 2012 (s 2(1) items 2 ‑ 5)

s 18-185 — When Commissioner may give notice

The Commissioner may give a notice to the individual on a day (the notice day ) under section 18 ‑ 130, 18 ‑ 140, 18 ‑ 170 or 18 ‑ 175 if: (a) on the notice day, the Commissioner has not given a notice of assessment to the individual for the income year mentioned in section 18 ‑ 125 or 18 ‑ 135; or (b) if the notice would: (i) in the case of a notice under section 18 ‑ 130—result in the individual being liable to pay * PAYG withholding non ‑ compliance tax or an increased amount of PAYG withholding non ‑ compliance tax; or (ii) in the case of a notice under section 18 ‑ 140—result in the Commissioner being able to commence proceedings to recover PAYG withholding non ‑ compliance tax, or an increased amount of PAYG withholding non ‑ compliance tax, from the individual; or (iii) in the case of a notice under section 18 ‑ 170 or 18 ‑ 175—reduce the amount of a credit or disentitle the individual to a credit; the Commissioner gives the notice no later than 2 years after first giving a notice of assessment to the individual for the income year mentioned in section 18 ‑ 125 or 18 ‑ 135; or (c) if the notice would: (i) in the case of a notice under section 18 ‑ 130—result in the individual being liable to pay no PAYG withholding non ‑ compliance tax, or a reduced amount of PAYG withholding non ‑ compliance tax; or (ii) in the case of a notice under section 18 ‑ 140—result in the Commissioner no longer being able to commence proceedings to recover PAYG withholding non ‑ compliance tax, or result in the Commissioner being able to commence proceedings to recover a reduced amount of PAYG withholding non ‑ compliance tax, from the individual; or (iii) in the case of a notice under section 18 ‑ 170 or 18 ‑ 175—increase the amount of a credit or entitle the individual to a credit; the Commissioner gives the notice no later than 4 years after first giving a notice of assessment to the individual for the income year mentioned in section 18 ‑ 125 or 18 ‑ 135; or (d) in any case—the Commissioner gives the notice: (i) to give effect to a decision on a review or appeal; or (ii) as a result of an objection made by the individual or pending a review or appeal.

Amendment history: Inserted by No 99 of 2012, effective sch 1 (items 1 ‑ 9, 12 ‑ 15, 23, 36 ‑ 47, 49 ‑ 57): 30 June 2012 (s 2(1) items 2 ‑ 5)

s 18-190 — Review of decisions

An individual to whom the Commissioner gives a notice under section 18 ‑ 140 in relation to an amount of * PAYG withholding non ‑ compliance tax may object, under Part IVC of this Act, against a decision of the Commissioner under section 18 ‑ 130, 18 ‑ 140, 18 ‑ 170 or 18 ‑ 175 in relation to the PAYG withholding non ‑ compliance tax if the individual is dissatisfied with the decision.

Amendment history: Inserted by No 99 of 2012, effective sch 1 (items 1 ‑ 9, 12 ‑ 15, 23, 36 ‑ 47, 49 ‑ 57): 30 June 2012 (s 2(1) items 2 ‑ 5)

s 20-35 — Offences

(1) A person must not: (a) present a document issued by the Commissioner that specifies a person (the specified person ); and (b) falsely pretend to be the specified person with the intention of obtaining under this Part a credit for, or a payment of, an * amount withheld from a * withholding payment. (2) A person must not attempt to obtain for the person a credit under this Part for an * amount withheld from a * withholding payment if: (a) the payment is not covered by section 12 ‑ 215, 12 ‑ 250, 12 ‑ 285 or 12 ‑ 317, or subsection 12 ‑ 390(4), and was made to another person; or (b) the payment is covered by section 12 ‑ 215, 12 ‑ 250, 12 ‑ 285 or 12 ‑ 317, or subsection 12 ‑ 390(4), and the person is not the foreign resident in respect of which all or a part of the payment is received as mentioned in that provision. (3) A person must not, with the intention of obtaining a credit, a payment or any other benefit, present: (a) a copy of a * payment summary (except one relating to Subdivision 12 ‑ H); or (b) a document purporting to be a copy of such a payment summary; which is not a copy duly given to the person. Penalty: 60 penalty units, or imprisonment for 12 months, or both. Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit. (4) A person must not, with the intention of obtaining a credit, a payment or any other benefit, present: (a) a * payment summary relating to Subdivision 12 ‑ H, or a copy of such a payment summary; or (b) a document purporting to be such a payment summary or a copy of such a payment summary; which is not a payment summary, or a copy of a payment summary, duly given to the person. Penalty: 60 penalty units, or imprisonment for 12 months, or both. Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 66 of 2003, effective sch 3 (items 134 ‑ 139, 140(1)), sch 5, sch 6 (items 2, 3): Royal Assent | Amended by No 79 of 2007, effective sch 8 (items 3, 26(1), (2)): 1 July 2007 sch 10 (items 1, 2, 14 ‑ 32): Royal Assent | Amended by No 32 of 2008, effective sch 1 (items 1, 24 ‑ 58): Royal Assent | Amended by No 14 of 2009, effective sch 2, sch 4 (items 37 ‑ 44): Royal Assent

s 20-40 — Joining of charges

(1) Charges against the same person for a number of offences against this Part may be joined in one complaint, information or summons if those charges: (a) are founded on the same facts; or (b) form a series of offences of the same or a similar character; or (c) are part of a series of offences of the same or similar character. (2) Particulars of each offence charged must be set out in a separate paragraph if 2 or more of the charges are included in the same complaint, information or summons. (3) If the charges are joined, the charges must be tried together unless the court: (a) considers it just that any of the charges should be tried separately; and (b) makes an order to that effect. (4) If a person is convicted of 2 or more of the offences: (a) the court may impose one penalty for both or all of those offences; but (b) the penalty must not exceed the sum of the maximum penalties that could be imposed in respect of each offence separately.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1))

s 20-45 — Offences that would otherwise be committed by a partnership or unincorporated company

(1) An offence against this Part that would otherwise be committed by a partnership is taken to have been committed by each partner who: (a) aided, abetted, counselled or procured the relevant act or omission; or (b) was in any way knowingly concerned in, or party to, the relevant act or omission (whether directly or indirectly, and whether by any act or omission of the partner). (2) An offence against this Part that would otherwise be committed by a company that is not incorporated is taken to have been committed by each member of the company’s committee of management who: (a) aided, abetted, counselled or procured the relevant act or omission; or (b) was in any way knowingly concerned in, or party to, the relevant act or omission (whether directly or indirectly, and whether by any act or omission of the member).

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 20-80 — Reviewable decisions

A person who is dissatisfied with any of the following decisions of the Commissioner may object against the decision in the manner set out in Part IVC. Reviewable decisions Item Description 1A Decision not to grant an exemption under subsection 12 ‑ 319(1) from withholding obligations in relation to sections 12 ‑ 315 and 12 ‑ 317 1 Decision not to give a certificate under subsection 12 ‑ 335(1) exempting an entity from notifying the Commissioner about a natural resource payment 5 Decision to revoke a certificate under subsection 12 ‑ 335(3) 10 Decision to vary a certificate under subsection 12 ‑ 335(3) 14 Decision under subsection 14 ‑ 220(1) not to issue a certificate on application under subsection 14 ‑ 220(2) 15 Decision under subsection 14 ‑ 220(1) to issue a certificate 16 Decision under subsection 14 ‑ 235(2) not to vary an amount on application under subsection 14 ‑ 235(3) 17 Decision under subsection 14 ‑ 235(2) to vary an amount 25 Refusal to determine under subsection 16 ‑ 110(1) that a large withholder is a * medium withholder or a * small withholder for a particular month or particular months 30 Refusal to determine under subsection 16 ‑ 110(1) that a medium withholder is a small withholder for a particular month or particular months 35 Decision to revoke a determination made under subsection 16 ‑ 110(1) 40 Decision to vary a determination made under subsection 16 ‑ 110(1) for a particular month or particular months 45 Determination under subsection 16 ‑ 115(1) that a small withholder is a medium withholder or a large withholder for a particular month or particular months 50 Determination under subsection 16 ‑ 115(1) that a medium withholder is a large withholder 55 Decision not to revoke a determination made under subsection 16 ‑ 115(1) 60 Decision not to vary a determination made under subsection 16 ‑ 115(1) for a particular month or particular months 62 Decision under section 16 ‑ 147 not to register an entity that has applied to be registered 63 Decision under section 16 ‑ 148 to cancel a registration (including making a determination under subsection 16 ‑ 148(5)) 65 Decision not to refund an amount under section 18 ‑ 70 70 Decision not to refund an amount under section 18 ‑ 80 Note: Division 298 also provides review rights about remission of administrative penalties.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4)) | Amended by No 66 of 2003, effective sch 3 (items 134 ‑ 139, 140(1)), sch 5, sch 6 (items 2, 3): Royal Assent | Amended by No 10 of 2016, effective sch 2 (item 31): 5 May 2016 (s 2(1) item 5) | Amended by No 89 of 2016, effective sch 2 (items 3 ‑ 6), sch 3, 4: 2 Dec 2016 (s 2(1) item 3)

s 21-1 — What this Division is about

This Part applies in relation to a payment by APRA under: (a) Division 2AA of Part II of the Banking Act 1959 applying in relation to an account with an ADI; or (b) Part VC of the Insurance Act 1973 applying in relation to a general insurance policy issued by a general insurance company; in a way corresponding to the way this Part would have applied if the payment had been made by the ADI or company in connection with the account or policy.

Amendment history: Inserted by No 42 of 2009, effective sch 1 (items 34, 35), sch 6 (item 34): Royal Assent

s 21-5 — APRA treated like ADI or general insurance company

(1) This section applies if: (a) an entity’s entitlement under Division 2AA of Part II of the Banking Act 1959 to be paid an amount by * APRA in connection with the entity’s account with an * ADI is met wholly or partly; or (b) an entity’s entitlement under Part VC of the Insurance Act 1973 to be paid an amount in connection with a * general insurance policy issued by a * general insurance company is met wholly or partly. Note 1: Division 2AA of Part II of the Banking Act 1959 entitles entities that have certain accounts with certain insolvent ADIs to be paid amounts by APRA worked out by reference to the balance of those accounts. Note 2: Part VC of the Insurance Act 1973 entitles entities with valid claims against certain insolvent general insurance companies under certain general insurance policies issued by those companies to be paid amounts by APRA. (2) This Part applies in relation to * APRA and the meeting of the entitlement in a way corresponding to the way in which this Part would have applied in relation to the * ADI or * general insurance company doing, in connection with the account or policy, whatever was done in meeting the entitlement. Example: APRA (or APRA’s agent or delegate) pays an entity an amount of the entity’s entitlement relating to an account with an ADI. This Part applies in relation to APRA and the payment in a way corresponding to the way in which this Part would have applied in relation to the ADI had the ADI made a payment at that time of that amount under the arrangements for keeping the account. Taxation Administration Act 1953 No. 1, 1953 Compilation No. 225 Compilation date: 1 July 2026 Includes amendments: Act No. 57, 2025 and Act No. 49, 2026 This compilation is in 4 volumes Volume 1: Parts I to V sections 1 to 18 Schedule 1 Chapter 2, Part 2 ‑ 1 to Part 2 ‑ 5 sections 6 ‑ 1 to 21 ‑ 5 Volume 2: Schedule 1 Chapter 2, Part 2 ‑ 10 to Chapter 4, Part 4 ‑ 25 sections 45 ‑ 1 to 298 ‑ 110 Volume 3: Schedule 1 Chapter 4, Part 4 ‑ 30 to Chapter 5, Part 5 ‑ 100 sections 308 ‑ 1 to 990 ‑ 5 Volume 4: Endnotes Each volume has its own contents About this compilation This compilation This is a compilation of the Taxation Administration Act 1953 that shows the text of the law as amended and in force on 1 July 2026 (the compilation date ). The notes at the end of this compilation (the endnotes ) include information about amending laws and the amendment history of provisions of the compiled law. Uncommenced amendments The effect of uncommenced amendments is not shown in the text of the compiled law. The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). Application, saving and transitional provisions If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes. Editorial changes For more information about any editorial changes made in this compilation, see the endnotes. Presentational changes The Legislation Act 2003 provides for First Parliamentary Counsel to make presentational changes to a compilation. Presentational changes are applied to give a more consistent look and feel to legislation published on the Register, and enable the user to more easily navigate those documents. Modifications If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. Any modifications affecting the law are accessible on the Register. Self ‑ repealing provisions If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes. Contents

Amendment history: Inserted by No 42 of 2009, effective sch 1 (items 34, 35), sch 6 (item 34): Royal Assent

s 45-1 — What this Division is about

If you have business or investment income, you must pay instalments towards your income tax liability. However, you do not have to do so unless the Commissioner has given you an instalment rate. Generally, instalments are payable for each quarter of your income year. Alternatively, instalments could be payable monthly or annually. Your instalments may be based on your previous year’s income tax liability and notified to you by the Commissioner, or on your estimate of your income tax liability for the current income year. (In this case, you are a quarterly payer who pays on the basis of GDP adjusted notional tax). Generally, four quarterly instalments are payable annually on this basis, but you may only be required to pay two. If you are not eligible to pay instalments on that basis, or if you are so eligible but choose not to do so, you must work out the amount of your quarterly instalment by multiplying your instalment income for an instalment quarter by the rate the Commissioner gave you, or by a rate you choose yourself. (In this case, you are a quarterly payer who pays on the basis of instalment income). If your business or investment income exceeds a certain limit, you may have to pay an instalment after the end of each month. (In this case, you are a monthly payer). If you are not required to be registered for GST purposes, you may be able to choose to pay an annual instalment after the end of the income year. (In this case, you are an annual payer). The amount of annual instalment can be your instalment income for the income year multiplied by the rate the Commissioner gave you, or an amount based on your previous year’s income tax liability and notified to you by the Commissioner, or your own estimate of your income tax liability for the income year.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Repealed and substituted by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 47 of 2009, effective sch 1 (items 1, 2, 6): 25 June 2009 sch 1 (items 3 ‑ 5): 1 July 2014 sch 2 (items 2 ‑ 15): Royal Assent | Amended by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 45-5 — Object of this Part

(1) The object of this Part is to ensure the efficient collection of: (a) income tax; and (b) * Medicare levy; and (ca) amounts of liabilities to the Commonwealth under Chapter 4 of the Higher Education Support Act 2003 ; and (caa) amounts of liabilities to the Commonwealth under Part 3A of the VET Student Loans Act 2016 ; and (cb) amounts of liabilities to the Commonwealth under Chapter 2AA of the Social Security Act 1991 ; and (cc) amounts of liabilities to the Commonwealth under Part 2 of the Student Assistance Act 1973 ; and (cd) amounts of liabilities to the Commonwealth under Chapter 3 of the Australian Apprenticeship Support Loans Act 2014 ; and (d) amounts of liabilities to the Commonwealth under Part 2B.3 of the Social Security Act 1991 ; and (e) amounts of liabilities to the Commonwealth under Division 6 of Part 4A of the Student Assistance Act 1973 ; through the application of the principles set out in the rest of this section. (2) As you earn * instalment income, you pay instalments after the end of each * instalment quarter worked out on the basis of your instalment income for that quarter if you are required or choose to work out your instalment on this basis. However, you may be able to pay an amount notified by the Commissioner. (There are exceptions to this). (2A) Alternatively: (a) you may be required to pay instalments after the end of each * instalment month worked out on the basis of your instalment income for that month; or (b) you may be able to choose to pay an annual instalment for the income year. (3) The total of your instalments for an income year is as close as possible to the total of your liabilities for the income year that are covered by subsection (1), except so far as the amounts of those liabilities are attributable to a * net capital gain. (The exception does not apply to the entities listed in subsections 45 ‑ 120(2) and (2A) or the net capital gains specified in subsection 45 ‑ 120(2B).) (4) Consequently, the additional amounts you have to pay to discharge those liabilities, after an assessment of your income tax for the income year is made, are as low as possible. (5) If you are a * quarterly payer who pays on the basis of instalment income, the amount of each of your instalments for an income year is the same proportion (as nearly as possible, subject to the principles in subsections (3) and (4)) of the total of those instalments as your * instalment income for that * instalment quarter is of your total instalment income for the income year. (5A) If you are a * monthly payer, the amount of each of your instalments for an income year is the same proportion (as nearly as possible, subject to the principles in subsections (3) and (4)) of the total of those instalments as your * instalment income for that * instalment month is of your total instalment income for the income year. (6) When instalments are payable, and how their amount is calculated, are the same for different kinds of entities, except as expressly provided. Note: Subdivision 45 ‑ P penalises an entity whose tax position, so far as it relates to PAYG instalments and related matters, is altered by a scheme that is inconsistent with the object of this Part.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 44 of 2000, effective sch 1, sch 3 (items 55 ‑ 67), sch 4 (items 17 ‑ 48): 22 Dec 1999 (s 2(1)) sch 2 (item 12): 1 Apr 2000 (s 2(2)) sch 3 (item 68): 1 July 2000 (s 2(8)) | Repealed and substituted by No 89 of 2000, effective sch 2 (items 114, 116), sch 7: 22 Dec 1999 (s 2(6), (10)) sch 2 (items 115, 117): 30 June 2000 (s 2(1)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 150 of 2003, effective sch 2 (items 152 ‑ 160): 1 Jan 2004 (s 2(1) item 16) | Amended by No 164 of 2007, effective sch 1 (items 68 ‑ 70, 71(12)): Royal Assent | Amended by No 56 of 2010, effective s 4(2), sch 3 (items 9, 10(1), (5)), sch 5 (items 191 ‑ 193), sch 6 (items 12 ‑ 14, 27 ‑ 36, 44 ‑ 53, 110, 111, 116, 159, 160): 3 June 2010 (s 2(1) items 1, 7, 11, 15, 20, 23) sch 1 (item 8): 17 Dec 2010 (s 2(1) item 4) sch 2 (items 3, 4), sch 6 (items 58 ‑ 97, 101 ‑ 105): 4 June 2010 (s 2(1) items 6, 16, 17) | Amended by No 12 of 2012, effective sch 6 (items 27 ‑ 29): 22 Dec 1999 (s 2(1) item 11) sch 6 (items 84 ‑ 93, 186, 187, 191, 192, 212, 213, 218, 241 ‑ 246, 248 ‑ 251): 21 Mar 2012 (s 2(1) items 14, 31) sch 6 (item 182): 3 Oct 2008 (s 2(1) item 30) | Amended by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17) | Amended by No 82 of 2014, effective sch 1 (items 8 ‑ 24): 18 July 2014 (s 2(1) item 2) | Amended by No 169 of 2015, effective sch 1 (items 82 ‑ 99, 111): 1 Jan 2016 (s 2(1) item 2) | Amended by No 116 of 2018, effective sch 1 (items 47 ‑ 60): 1 July 2019 (s 2(1) items 10 ‑ 12) | Amended by No 61 of 2023, effective sch 1 (items 137 ‑ 148, 156 ‑ ‑ 165): 1 Jan 2024 (s 2(1) item 1)

s 45-10 — Application of Part

This Part applies to individuals, companies, and the entities listed in items 4 to 10, and 12 and 13, of the table in section 9 ‑ 1 of the Income Tax Assessment Act 1997 (which lists the entities that must pay income tax). Note 1: Section 45 ‑ 450 provides for how this Part applies to a trustee covered by any of items 4 to 8, and 12 and 13, of the table in section 9 ‑ 1 of the Income Tax Assessment Act 1997 . In most respects, the trust is treated like a company. Note 2: This Part also applies to a trustee covered by item 11 of the table in section 9 ‑ 1 of the Income Tax Assessment Act 1997 , but only to the extent set out in section 45 ‑ 455, and the rest of Subdivision 45 ‑ N, in this Schedule.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 44 of 2000, effective sch 1, sch 3 (items 55 ‑ 67), sch 4 (items 17 ‑ 48): 22 Dec 1999 (s 2(1)) sch 2 (item 12): 1 Apr 2000 (s 2(2)) sch 3 (item 68): 1 July 2000 (s 2(8)) | Amended by No 14 of 2009, effective sch 2, sch 4 (items 37 ‑ 44): Royal Assent

s 45-15 — Liability for instalments

(1) The Commissioner may give you an instalment rate from time to time, by giving you written notice of the rate. (2) You are liable to pay instalments under this Division if the Commissioner has given you an instalment rate. Note 1: The instalment rate that the Commissioner gives you is worked out under section 45 ‑ 320 or 45 ‑ 775. Note 2: If your assessable income has always consisted wholly of withholding payments (other than non ‑ quotation withholding payments), the Commissioner will not give you an instalment rate. Note 3: Work out the amount of your instalments under Subdivision 45 ‑ C. Note 4: If the Commissioner withdraws the rate under section 45 ‑ 90, you are not liable to pay further instalments. Note 5: For provisions about collection and recovery of amounts you are liable to pay under this Part, see Part 4 ‑ 15.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 44 of 2000, effective sch 1, sch 3 (items 55 ‑ 67), sch 4 (items 17 ‑ 48): 22 Dec 1999 (s 2(1)) sch 2 (item 12): 1 Apr 2000 (s 2(2)) sch 3 (item 68): 1 July 2000 (s 2(8)) | Amended by No 68 of 2002, effective 24 Oct 2002 ( see s 2)

s 45-20 — Information to be given to the Commissioner by certain payers

(1) If you are liable to pay an instalment for a period (even if it is a nil amount), you must notify the Commissioner of the amount of your * instalment income for the period. (2) You must notify the Commissioner in the * approved form and on or before the day when the instalment is due (regardless of whether it is paid). (2A) If you are a * monthly payer for the period, you must give the notification electronically, unless the Commissioner otherwise approves. Note: A penalty applies if you fail to give the notification electronically as required—see section 288 ‑ 10. (2B) The notification is given electronically if it is transmitted to the Commissioner in an electronic format approved by the Commissioner. Exceptions (3) Subsection (1) does not apply to: (a) a quarterly instalment worked out under section 45 ‑ 112 (on the basis of GDP ‑ adjusted notional tax or estimated benchmark tax); or (b) an annual instalment, unless it is worked out under paragraph 45 ‑ 115(1)(a) (based on the Commissioner’s rate and your instalment income for the income year).

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 45-25 — Penalty for failure to notify Commissioner

(1) If you fail to notify the Commissioner of an amount as required by section 45 ‑ 20, or you notify an amount that is less than the correct amount, you are liable to pay the * failure to notify penalty on the amount, or on the shortfall, multiplied by the instalment rate that you are required to use to work out the instalment for the period, for each day in the period that: (a) started at the beginning of the day by which the amount was due to be paid; and (b) finishes at the end of the day before you notify the Commissioner of the correct amount, or he or she otherwise becomes aware of it. (2) This section does not apply to a notification required to be lodged on or after 1 July 2000. Note: See instead Division 286 in Schedule 1 to the Taxation Administration Act 1953 .

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4))

s 45-30 — Credit for instalments payable

(1) You are entitled to a credit when the Commissioner makes an assessment of the income tax you are liable to pay for an income year or an assessment that no income tax is payable by you for an income year. (2) The credit is equal to: • the total of each instalment payable by you for the income year (even if you have not yet paid it); reduced by: • the total of each credit that you have claimed under section 45 ‑ 215 or 45 ‑ 420 in respect of such an instalment. (3) The making of the assessment, and the resulting credit entitlement, do not affect the liability to pay an instalment. Note: How the credit is applied is set out in Division 3 of Part IIB. (4) If: (a) you are a * subsidiary member of a * consolidated group at any time during a * consolidation transitional year for you; and (b) an amount of instalment payable by you, or an amount of credit claimed by you under section 45 ‑ 215 or 45 ‑ 420, is taken into account in working out a credit to which the * head company of that consolidated group is entitled under section 45 ‑ 865 for a consolidation transitional year for the head company; that amount, to the extent to which it is so taken into account under that section, is not to be taken into account in working out any credit to which you are entitled under this section for any year.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 68 of 2002, effective 24 Oct 2002 ( see s 2) | Amended by No 161 of 2005, effective sch 1 (items 27 ‑ 37, 46 ‑ 56, 59), sch 2 (items 1, 16 ‑ 32): Royal Assent

s 45-50 — Liability to pay instalments

(1) Subject to subsection (4), you are liable to pay an instalment for an * instalment quarter in an income year if, at the end of that instalment quarter, you are: (a) a * quarterly payer who pays 4 instalments annually on the basis of GDP ‑ adjusted notional tax; or (b) a * quarterly payer who pays on the basis of instalment income. (2) Subject to subsection (4), you are liable to pay an instalment for an * instalment quarter that is the third or fourth instalment quarter in an income year if, at the end of that quarter, you are a * quarterly payer who pays 2 instalments annually on the basis of GDP ‑ adjusted notional tax. (2A) Subject to subsection (4), you are liable to pay an instalment for an * instalment month if, at the end of that month, you are a * monthly payer. (3) Subject to subsection (4), you are liable to pay an instalment for an income year if, at the end of the * starting instalment quarter in that year, you are an * annual payer. (4) You are only liable to pay an instalment for an * instalment quarter, an * instalment month or an income year if: (a) the Commissioner has given you an instalment rate; and (b) the Commissioner has not withdrawn your instalment rate before the end of that quarter, month or year.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Repealed and substituted by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 78 of 2005, effective 29 June 2005 | Amended by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 45-60 — Meaning of instalment quarter

For an income year (whether it ends on 30 June or not), the following are the instalment quarters : (a) your first instalment quarter consists of the first 3 months of the income year; and (b) your second instalment quarter consists of the fourth, fifth and sixth months of the income year; and (c) your third instalment quarter consists of the seventh, eighth and ninth months of the income year; and (d) your fourth instalment quarter consists of the tenth, 11th and 12th months of the income year.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Repealed and substituted by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3))

s 45-61 — When quarterly instalments are due—payers of quarterly instalments

You are not a deferred BAS payer (1) Subject to subsection (2), if you are: (a) a * quarterly payer who pays on the basis of instalment income; or (b) a * quarterly payer who pays 4 instalments annually on the basis of GDP ‑ adjusted notional tax; or (c) a * quarterly payer who pays 2 instalments annually on the basis of GDP ‑ adjusted notional tax; the instalment for an * instalment quarter that you are liable to pay is due on or before the 21st day of the month after the end of that quarter. Note: You are only liable to pay instalments for the third and fourth instalment quarters in an income year if you are a quarterly payer who pays 2 instalments annually on the basis of GDP ‑ adjusted notional tax. See section 45 ‑ 50. You are a deferred BAS payer (2) If: (a) subsection (1) would, but for this subsection, have applied to you in relation to an * instalment quarter; but (b) you are a * deferred BAS payer on the 21st day of the month after the end of that quarter; the instalment for that quarter is instead due on or before: (c) the 28th day of the month after the end of that quarter unless all or a part of a December falls within the last month of that quarter; or (d) if all or a part of a December falls within the last month of that quarter—the next 28 February. Note 1: You are only liable to pay instalments for the third and fourth instalment quarters in an income year if you are a quarterly payer who pays 2 instalments annually on the basis of GDP ‑ adjusted notional tax. See section 45 ‑ 50. Note 2: If you are the head company of a consolidated group to which Subdivision 45 ‑ Q applies, the instalment is due on or before the 21st day of the month after the end of the quarter: see section 45 ‑ 715.

Amendment history: Inserted by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 68 of 2002, effective 24 Oct 2002 ( see s 2)

s 45-65 — Meaning of instalment month

For an income year (whether it ends on 30 June or not), the following are instalment months : (a) the month that starts on the first day of the income year; (b) each subsequent month. Note: For the meaning of month , see section 2G of the Acts Interpretation Act 1901 .

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Repealed by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Inserted by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 45-67 — When monthly instalments are due—payers of monthly instalments

You are not a deferred BAS payer (1) If you are a * monthly payer, the instalment for an * instalment month that you are liable to pay is due on or before the 21st day of the next instalment month. (2) If: (a) subsection (1) would, but for this subsection, have applied to you in relation to an * instalment month; but (b) you are a * deferred BAS payer on the 21st day of the next instalment month; the instalment for the month mentioned in paragraph (a) is instead due on or before: (c) the 28th day of that next instalment month unless that next instalment month is January; or (d) if that next instalment month is January—the next 28 February. Note: If you are the head company of a consolidated group to which Subdivision 45 ‑ Q applies, the instalment is due on or before the 21st day of that next month: see section 45 ‑ 715 (as it has effect because of section 45 ‑ 703).

Amendment history: Inserted by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 45-70 — When annual instalments are due

(1) This section applies if you are liable to pay an annual instalment for the 2002 ‑ 03 income year or a later income year. (2) If the income year ends on 30 June, the instalment is due on or before the next 21 October. (3) If the income year ends on a day other than 30 June, the instalment is due on or before the 21st day of the fourth month after the end of the income year.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 101 of 2006, effective sch 3, 4: 1 Jan 2008 Remainder: Royal Assent

s 45-72 — Means of payment of instalment

You must pay an instalment by * electronic payment, or any other means approved in writing by the Commissioner.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Repealed by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Inserted by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 45-75 — Instalments recoverable in same way as income tax

Instalments are to be treated as income tax for the purposes of sections 254 and 255 of the Income Tax Assessment Act 1936 .

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 44 of 2000, effective sch 1, sch 3 (items 55 ‑ 67), sch 4 (items 17 ‑ 48): 22 Dec 1999 (s 2(1)) sch 2 (item 12): 1 Apr 2000 (s 2(2)) sch 3 (item 68): 1 July 2000 (s 2(8))

s 45-80 — General interest charge on late payment

If you fail to pay some or all of an instalment by the time by which the instalment is due to be paid, you are liable to pay the * general interest charge on the unpaid amount for each day in the period that: (a) started at the beginning of the day by which the instalment was due to be paid; and (b) finishes at the end of the last day on which, at the end of the day, any of the following remains unpaid: (i) the instalment; (ii) general interest charge on any of the instalment.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1))

s 45-90 — Commissioner may withdraw instalment rate

(1) The Commissioner may: (a) by giving you written notice, withdraw your instalment rate; or (b) by legislative instrument, withdraw the instalment rate of a class of entities that includes you. Note: If the Commissioner does so, you cease to be liable to pay instalments (even if you have chosen a rate under section 45 ‑ 205). See subsection 45 ‑ 50(4). (2) If the Commissioner withdraws your instalment rate and later gives you another one: (a) you are again liable to pay instalments in accordance with section 45 ‑ 50; and (b) this Division has effect as if the Commissioner has given you an instalment rate for the first time.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 64 of 2020, effective sch 3 (items 124 ‑ 145): 1 July 2020 (s 2(1) item 5) sch 3 (items 302 ‑ 321, 325, 326): 1 Oct 2020 (s 2(1) item 6)

s 45-110 — How to work out amount of quarterly instalment on instalment income basis

(1) Work out the amount of an instalment you are liable to pay for an * instalment quarter as follows if, at the end of that instalment quarter, you are a * quarterly payer who pays on the basis of instalment income: (2) For the purposes of the formula in subsection (1): Applicable instalment rate means: (a) unless paragraph (b) or (c) applies—the most recent instalment rate given to you by the Commissioner under section 45 ‑ 15 before the end of that quarter; or (b) if you have chosen an instalment rate for that quarter under section 45 ‑ 205—that rate; or (c) if you have chosen an instalment rate under section 45 ‑ 205 for an earlier * instalment quarter in that income year (and paragraph (b) does not apply)—that rate. Note: If you believe the Commissioner’s rate is not appropriate for the current income year, you may choose a different instalment rate under Subdivision 45 ‑ F.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3))

s 45-112 — Amount of instalment for quarterly payer who pays on basis of GDP ‑ adjusted notional tax

(1) If, at the end of an * instalment quarter in an income year, you are a * quarterly payer who pays on the basis of GDP ‑ adjusted notional tax who is liable to pay an instalment for that quarter, the amount of your instalment for that quarter is: (a) unless paragraph (b) or (c) applies—the amount that the Commissioner works out under Subdivision 45 ‑ L, and notifies to you, as the amount of the instalment; or (b) if you choose to work out the amount of the instalment on the basis of your estimate of your * benchmark tax for that income year, and you notify the Commissioner in accordance with subsection (2)—the amount worked out under Subdivision 45 ‑ M; or (c) if paragraph (b) applied to your instalment for an earlier * instalment quarter in that income year—the amount that the Commissioner works out under Subdivision 45 ‑ M, and notifies to you, as the amount of the instalment. (2) If the amount of the instalment is worked out under paragraph (1)(b) on the basis of your estimate of your * benchmark tax for the income year, you must notify the Commissioner in the * approved form, on or before the day when the instalment is due (disregarding subsection (3)), of the amount of that estimate. (3) If: (a) after the end of an * instalment quarter the Commissioner notifies you of an amount as the amount of your instalment for that quarter; and (b) the amount of your instalment for that quarter is not worked out under paragraph (1)(b); the instalment is due on or before the 21st day after the day on which the notice is given.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3))

s 45-114 — How to work out amount of monthly instalment

(1) Work out the amount of an instalment you are liable to pay for an * instalment month as follows if, at the end of that instalment month, you are a * monthly payer: (2) For the purposes of the formula in subsection (1): applicable instalment rate means: (a) unless paragraph (b) or (c) applies—the most recent instalment rate given to you by the Commissioner under section 45 ‑ 15 before the end of that month; or (b) if you have chosen an instalment rate for that month under section 45 ‑ 205—that rate; or (c) if you have chosen an instalment rate under section 45 ‑ 205 for an earlier * instalment month in that income year (and paragraph (b) does not apply)—that rate. Note: If you believe the Commissioner’s rate is not appropriate for the current income year, you may choose a different instalment rate under Subdivision 45 ‑ F. (3) The Commissioner may, by legislative instrument, determine one or more specified additional methods by which a specified class of entity that is a * monthly payer at the end of an * instalment month may work out, in specified circumstances, the amount of an instalment that it is liable to pay for the instalment month. Note: For specification by class, see subsection 13(3) of the Legislation Act 2003 . (4) You may choose a method specified in the determination: (a) unless paragraph (b) applies—for any * instalment month; or (b) if the determination provides that that method can be chosen only for the first instalment month in an * instalment quarter—for the first instalment month in an instalment quarter. (5) The determination may provide that an entity that chooses a method in accordance with paragraph (4)(b) for the first * instalment month in an * instalment quarter is taken to have chosen that method under subsection (4) for the other instalment months in that quarter. The determination has effect accordingly. (6) Subsection (7) applies if: (a) the Commissioner has made a determination under subsection (3); and (b) at the end of an * instalment month, you are a * monthly payer; and (c) you choose under subsection (4), for that month: (i) if the determination specifies one additional method to work out that amount—that method; or (ii) if the determination specifies more than one additional method to work out that amount—one of those methods. (7) Despite subsection (1), work out the amount of an instalment you are liable to pay for that * instalment month in accordance with the method that you chose for that month under subsection (4).

Amendment history: Inserted by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17) | Amended by No 126 of 2015, effective sch 1 (items 601 ‑ 603): 5 Mar 2016 (s 2(1) item 2)

s 45-115 — How to work out amount of annual instalment

(1) The amount of an instalment you are liable to pay for the 2002 ‑ 03 income year or a later income year is whichever of the following you choose: (a) the amount worked out using the formula: (b) your most recent * notional tax notified by the Commissioner before the end of the income year; (c) the amount that you estimate will be your * benchmark tax for the income year. Note 1: You cannot choose a different instalment rate under Subdivision 45 ‑ F if you are an annual payer. Instead you can work out the amount of your instalment under paragraph (c). Note 2: You may be liable to general interest charge under section 45 ‑ 235 if working out your instalment under paragraph (c) leads you to pay an instalment that is less than 85% of your benchmark tax for the income year (worked out by the Commissioner under section 45 ‑ 365). (2) Commissioner’s instalment rate for an income year means the most recent instalment rate given to you by the Commissioner before the end of the income year. (3) If you choose to work out your instalment under paragraph (1)(c), you must notify the Commissioner, in the * approved form, of the amount of the instalment on or before the day when it is due.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 44 of 2000, effective sch 1, sch 3 (items 55 ‑ 67), sch 4 (items 17 ‑ 48): 22 Dec 1999 (s 2(1)) sch 2 (item 12): 1 Apr 2000 (s 2(2)) sch 3 (item 68): 1 July 2000 (s 2(8)) | Amended by No 101 of 2006, effective sch 3, 4: 1 Jan 2008 Remainder: Royal Assent

s 45-120 — Meaning of instalment income

General rule (1) Your instalment income for a period includes your * ordinary income * derived during that period, but only to the extent that it is assessable income of the income year that is or includes that period. Note 1: No other amount is instalment income unless it is covered by another provision of this section or by Subdivision 45 ‑ H or 45 ‑ I. Note 1A: The operation of this section and other provisions relating to instalment income is affected by sections 45 ‑ 855 and 45 ‑ 860 (about a member of a consolidated group during a period before the members of the group are treated as a single entity for the purposes of this Part.) Note 2: If during that period you are a partner in a partnership, or a beneficiary of a trust, your instalment income also includes some of the partnership’s or trust’s instalment income for the period (except in some cases). See Subdivision 45 ‑ H or 45 ‑ I. Statutory income included for some entities (2) The instalment income of: (a) a * complying approved deposit fund or a * non ‑ complying approved deposit fund; or (b) a * complying superannuation fund or a * non ‑ complying superannuation fund; or (c) a * pooled superannuation trust; for a period also includes the entity’s * statutory income, to the extent that: (d) it is reasonably attributable to that period; and (e) it is assessable income of the income year that is or includes that period. (2A) The instalment income of a * life insurance company for a period also includes any part of its * statutory income that: (a) is reasonably attributable to that period; and (b) is included in the * complying superannuation class of its taxable income for the income year that is or includes that period. Net gains under Subdivision 250 ‑ E of the Income Tax Assessment Act 1997 included in instalment income (2B) Your instalment income for a period also includes the difference between: (a) a gain (or gains) you make from a * financial arrangement to the extent to which it is (or they are): (i) assessable under Subdivision 250 ‑ E of the Income Tax Assessment Act 1997 ; and (ii) reasonably attributable to that period; and (b) a loss (or losses) you make from a financial arrangement to the extent to which it is (or they are): (i) allowable to you as a deduction under Subdivision 250 ‑ E of the Income Tax Assessment Act 1997 ; and (ii) reasonably attributable to that period. This is so only if the gain (or gains) referred to in paragraph (a) exceeds the loss (or losses) referred to in paragraph (b). Effect of Division 230 of the Income Tax Assessment Act 1997 on instalment income (2C) Your instalment income for a period also includes the difference between: (a) a gain (or gains) you make from a * financial arrangement to the extent to which it is (or they are): (i) assessable under Division 230 of the Income Tax Assessment Act 1997 ; and (ii) reasonably attributable to that period; and (b) a loss (or losses) you make from a financial arrangement to the extent to which it is (or they are): (i) allowable to you as a deduction under Division 230 of the Income Tax Assessment Act 1997 ; and (ii) reasonably attributable to that period. This is so only if the gain (or gains) referred to in paragraph (a) equals or exceeds the loss (or losses) referred to in paragraph (b). (2D) However, your instalment income for a period is worked out disregarding subsection (2C) if any of the following apply: (a) you are an individual; (b) the only gains and losses that would be taken into account under subsection (2C) for the period are from * financial arrangements that are * qualifying securities. (2E) A gain or loss that is taken into account under subsection (2C) in working out an amount (including a nil amount) to be included in your instalment income for a period is not to be, to any extent, taken into account again under another provision of this section in calculating your instalment income for the same or any other period. Exclusion: amounts in respect of withholding payments (3) Your instalment income for a period does not include amounts in respect of: (a) * withholding payments (except * non ‑ quotation withholding payments) made to you during that period; and (b) amounts included in your assessable income under section 86 ‑ 15 of the Income Tax Assessment Act 1997 for which there are amounts required to be paid under Division 13; and (c) which a penalty is applicable under section 12 ‑ 415. Farm management deposits: effect of making and repayment (4) Your instalment income for a period is reduced (but not below nil) by a * farm management deposit made during that period, but only to the extent that, at the end of that period, you can reasonably expect to be able to deduct the deposit under section 393 ‑ 5 of the Income Tax Assessment Act 1997 for the income year that is or includes that period. (5) Your instalment income for a period also includes an amount that section 393 ‑ 10 of the Income Tax Assessment Act 1997 includes in your assessable income, for the income year that is or includes that period, because of a repayment during that period of all or some of a * farm management deposit. Gross proceeds on disposal of registered emissions units included in instalment income (5A) Your instalment income for a period also includes an amount that section 420 ‑ 25 of the Income Tax Assessment Act 1997 includes in your assessable income, for the income year that is or includes that period, because you cease to * hold a * registered emissions unit during that period. Instalment income of entity that is not liable for instalments (6) An entity can have * instalment income for a period even if the entity is not liable to pay an instalment for that period. Note: For example, although a partnership does not pay instalments, it is necessary to work out the partnership’s instalment income in order to work out instalments payable by the partners. See Subdivision 45 ‑ H.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 44 of 2000, effective sch 1, sch 3 (items 55 ‑ 67), sch 4 (items 17 ‑ 48): 22 Dec 1999 (s 2(1)) sch 2 (item 12): 1 Apr 2000 (s 2(2)) sch 3 (item 68): 1 July 2000 (s 2(8)) | Amended by No 86 of 2000, effective sch 1 (items 26A, 26B, 27 ‑ 58): 30 June 2000 (s 2(1)) | Amended by No 89 of 2000, effective sch 2 (items 114, 116), sch 7: 22 Dec 1999 (s 2(6), (10)) sch 2 (items 115, 117): 30 June 2000 (s 2(1)) | Amended by No 169 of 2001, effective sch 6 (items 18, 18A, 19(3), (4)): 1 Oct 2001 (s 2(1)) | Amended by No 68 of 2002, effective 24 Oct 2002 ( see s 2) | Amended by No 16 of 2003, effective sch 4 (items 8 ‑ 10), sch 6 (items 11, 12), sch 14 (items 8 ‑ 12), sch 23 (item 14), sch 24 (items 1 ‑ 19): 24 Oct 2002 (s 2(1) items 3, 4, 9, 13, 14) sch 28 (items 14 ‑ 18, 19(3)): 29 June 2002 (s 2(1) items 17, 19) | Amended by No 15 of 2007, effective sch 1 (items 366 ‑ 393, 406(1) ‑ (3)), sch 3 (items 61 ‑ 66), sch 4 (item 12): 15 Mar 2007 (s 2(1) items 2, 8, 12) | Amended by No 164 of 2007, effective sch 1 (items 68 ‑ 70, 71(12)): Royal Assent | Amended by No 32 of 2008, effective sch 1 (items 1, 24 ‑ 58): Royal Assent | Amended by No 45 of 2008, effective sch 1 (items 53 ‑ 66), sch 4 (item 64), sch 6 (items 18 ‑ 21), sch 7 (item 56): 26 June 2008 | Amended by No 15 of 2009, effective sch 1 (items 101 ‑ 105): Royal Assent | Amended by No 118 of 2009, effective sch 1 (items 47 ‑ 49, 51(2), 53, 54), sch 2: 4 Dec 2009 (s 2(1) items 4 ‑ 6) | Amended by No 79 of 2010, effective sch 1 (items 6 ‑ 10, 36 ‑ 53, 57 ‑ 66), sch 4 (items 7, 47 ‑ 49, 51): 1 July 2010 | Amended by No 132 of 2011, effective sch 1 (item 212A), sch 2 (item 73): 2 Apr 2012 ( see s 2(1)) | Amended by No 147 of 2011, effective sch 3, sch 5 (items 10 ‑ 16), sch 8 (item 43): Royal Assent sch 8 (items 10 ‑ 35, 37, 39, 40): 1 Jan 2012 sch 8 (item 36): 1 July 2012 | Amended by No 70 of 2015, effective sch 1 (items 151 ‑ 174, 195 ‑ 205): 1 July 2015 (s 2(1) items 3, 6) sch 6 (items 51 ‑ 59): 25 June 2015 (s 2(1) item 17)

s 45-125 — Quarterly payer who pays instalments on the basis of instalment income

(1) You are a quarterly payer who pays on the basis of instalment income if: (a) at the end of the * starting instalment quarter in an income year, you are not a * quarterly payer who pays on the basis of GDP ‑ adjusted notional tax and you are not a * monthly payer or an * annual payer; or (b) but for this section, you would be a quarterly payer who pays on the basis of GDP ‑ adjusted notional tax at the end of the starting instalment quarter in an income year but you choose to pay quarterly instalments on the basis of your instalment income. Note: The entity must make the choice mentioned in paragraph (b) in accordance with subsection (4). (2) The starting instalment quarter in an income year (the current year ) is: (a) if the Commissioner gives you an instalment rate for the first time during an * instalment quarter in the current year—that instalment quarter (even if it is not the first instalment quarter in the current year); or (b) if the Commissioner has given you an instalment rate during a previous income year and your instalment rate has not been withdrawn—the first instalment quarter in the current year. How and when you become such a payer (3) You become a * quarterly payer who pays on the basis of instalment income just before the end of the * starting instalment quarter if paragraph (1)(a) or (b) is satisfied. (4) You must make the choice mentioned in paragraph (1)(b) by notifying the Commissioner in the * approved form on or before the day on which the instalment for that quarter is due (disregarding subsection 45 ‑ 112(3)). How and when you stop being such a payer (5) If you are a * quarterly payer who pays on the basis of instalment income because of paragraph (1)(a), 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 GDP ‑ adjusted notional tax; or (ii) an * annual payer; or (b) at the end of the first * instalment month of that quarter, you become a * monthly payer. No quarterly payer status in quarter if monthly payer in following month (5A) Despite subsections (1) and (3), you cannot be a * quarterly payer who pays on the basis of instalment income at a time in an * instalment quarter if you are a * monthly payer at a time in the first * instalment month that ends after that quarter. (6) If you are a * quarterly payer who pays on the basis of instalment income because of paragraph (1)(b), you stop being such a payer at the start of the first * instalment quarter in the next income year if: (a) you become an * annual payer at the end of that quarter; or (b) both of the following conditions apply: (i) you choose not to be a quarterly payer who pays on the basis of instalment income; (ii) you become a * quarterly payer who pays on the basis of GDP ‑ adjusted notional tax at the end of that quarter. (7) You may only make the choice mentioned in paragraph (6)(b) if you would otherwise satisfy paragraph 45 ‑ 130(1)(a), (b), (c) or (d) at the end of that quarter. You must make that choice by notifying the Commissioner in the * approved form on or before the day on which the instalment for that quarter is due (disregarding subsection 45 ‑ 112(3)).

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Repealed and substituted by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 78 of 2005, effective 29 June 2005 | Amended by No 80 of 2007, effective 21 June 2007 | Amended by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 45-130 — Quarterly payer who pays on the basis of GDP ‑ adjusted notional tax

(1) You are a quarterly payer who pays on the basis of GDP ‑ adjusted notional tax if, at the end of the * starting instalment quarter in an income year: (a) you are an individual who is not an * annual payer, a * monthly payer or a * quarterly payer who pays on the basis of instalment income; or (b) you are a * self ‑ assessment entity: (i) that is not an * annual payer or a * quarterly payer who pays on the basis of instalment income; and (ii) your base assessment instalment income (within the meaning of section 45 ‑ 320) for the * base year is $2 million or less; or (c) you satisfy all of the following conditions: (i) you are a self ‑ assessment entity whose base assessment instalment income (within the meaning of section 45 ‑ 320) for the * base year is more than $2 million; (ii) you are not an annual payer, but you satisfy the conditions set out in subsection 45 ‑ 140(1) for an annual payer; (iia) you are not a * monthly payer; (iii) you are not a quarterly payer who pays on the basis of instalment income; or (d) for the 2009 ‑ 10 income year or a later income year—you are one of the following kinds of entity (an eligible business entity ): (i) a * small business entity (other than because of subsection 328 ‑ 110(4) of the Income Tax Assessment Act 1997 ); (ii) an entity covered by subsection (1A) of this section. Note: Paragraph (a) may apply to you if you are a multi ‑ rate trustee. See section 45 ‑ 468. (1A) An entity is covered by this subsection for an income year if: (a) the entity is not a * small business entity (other than because of subsection 328 ‑ 110(4) of the Income Tax Assessment Act 1997 ) for the income year; and (b) the entity would be such a small business entity for the income year if: (i) each reference in Subdivision 328 ‑ C (about what is a small business entity) of that Act to $10 million were instead a reference to $50 million; and (ii) the reference in paragraph 328 ‑ 110(5)(b) of that Act to a small business entity were instead a reference to an entity covered by this subsection. How and when you become such a payer (2) You become such a payer just before the end of the * starting instalment quarter if paragraph (1)(a), (b), (c) or (d) is satisfied. (2A) For the purposes of subsection (2), you satisfy proposed paragraph (1)(d) at the end of the * starting instalment quarter in an income year if you are an eligible business entity for the income year that includes that instalment quarter. How and when you stop being such a payer (3) You stop being a * quarterly payer who pays 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 paragraph (1)(a), (b), (c) or (d) at the end of that quarter. (3A) For the purposes of subsection (3), you fail to satisfy proposed paragraph (1)(d) at the end of the first * instalment quarter in an income year if you are not an eligible business entity for the income year that includes that instalment quarter. (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. No quarterly payer status in quarter if monthly payer in following month (5) Despite subsections (1) and (2), you cannot be a * quarterly payer who pays on the basis of GDP ‑ adjusted notional tax at a time in an * instalment quarter if you are a * monthly payer at a time in the first * instalment month that ends after that quarter.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Repealed and substituted by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 80 of 2007, effective 21 June 2007 | Amended by No 79 of 2010, effective sch 1 (items 6 ‑ 10, 36 ‑ 53, 57 ‑ 66), sch 4 (items 7, 47 ‑ 49, 51): 1 July 2010 | Amended by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17) | Amended by No 92 of 2020, effective sch 1 (items 22 ‑ 24): 15 Oct 2020 (s 2(1) item 4) sch 2 (item 36), sch 3 (items 37 ‑ 40), sch 6 (items 1 ‑ 3): 1 Jan 2021 (s 2(1) item 7)

s 45-132 — Quarterly payer who pays 4 instalments annually on the basis of GDP ‑ adjusted notional tax

(1) You are a quarterly payer who pays 4 instalments annually on the basis of GDP ‑ adjusted notional tax if, at the end of the * starting instalment quarter in an income year: (a) you satisfy the conditions to be a * quarterly payer who pays on the basis of GDP ‑ adjusted notional tax under section 45 ‑ 130; and (b) you do not satisfy the conditions to be a * quarterly payer who pays 2 instalments annually on the basis of GDP ‑ adjusted notional tax under section 45 ‑ 134. How and when you become such a payer (2) You become such a payer just before the end of the * starting instalment quarter if paragraphs (1)(a) and (b) are satisfied. How and when you stop being such a payer (3) You stop being a * quarterly payer who pays 4 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 paragraphs (1)(a) and (b) at the end of that quarter. (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.

Amendment history: Inserted by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 45-134 — Quarterly payer who pays 2 instalments annually on the basis of GDP ‑ adjusted notional tax

(1) You 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 (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 (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. (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.

Amendment history: Inserted by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 45-136 — Monthly payer

(1) You are a monthly payer at a time if: (a) you were a monthly payer immediately before that time; or (b) if paragraph (a) does not apply—you satisfy the requirement in subsection 45 ‑ 138(1) for the income year in which that time occurs. Note: If paragraph (b) applies, see subsection (3) for the time at which you become a monthly payer. (2) The starting instalment month in an income year (the current year ) is: (a) if the Commissioner gives you an instalment rate for the first time during an * instalment month in the current year—the next instalment month in the current year; or (b) if the Commissioner has given you an instalment rate during a previous income year and your instalment rate has not been withdrawn—the first instalment month in the current year. How and when you become such a payer (3) Despite subsection (1), if paragraph (1)(b) applies, you become a * monthly payer just before the end of the * starting instalment month in the income year. How and when you stop being such a payer (4) Despite subsection (1), you stop being a * monthly payer at the start of the first * instalment month in a later income year if: (a) you do not satisfy the requirement in subsection 45 ‑ 138(1) for that later income year; and (b) you give the Commissioner a notice (the MP stop notice ) in the * approved form for that later income year before the start of that later income year.

Amendment history: Inserted by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 45-138 — Monthly payer requirement

(1) You satisfy the requirement in this subsection for an income year if at the start of your * MPR test day for that income year, your base assessment instalment income (within the meaning of section 45 ‑ 320) for the * base year equals or exceeds: (a) $20 million; or (b) if regulations made for the purposes of this paragraph specify a different amount—that amount. (2) However, you do not satisfy the requirement in subsection (1) for an income year if, at the start of your * MPR test day for that income year: (a) you have (or, if you are a * member of a * GST group, the * representative member of the GST group has) an obligation to give the Commissioner a * GST return for a quarterly * tax period; and (b) you are not the * head company of a * consolidated group nor the * provisional head company of a * MEC group; and (c) your base assessment instalment income (within the meaning of section 45 ‑ 320) for the * base year is less than $100 million. (3) For the purposes of subsections (1) and (2), at the start of an entity’s * MPR test day: (a) determine the amount of the entity’s base assessment instalment income (within the meaning of section 45 ‑ 320) for the * base year only on the basis of the information provided by the Commissioner to the entity before that start of that day; and (b) in determining on that day whether an entity has an obligation mentioned in paragraph (2)(a), disregard any creation or removal of such an obligation after that day (even if that change is made retrospective to that day). (4) An entity’s MPR test day for an income year is: (a) if the Commissioner gives the entity an instalment rate for the first time during an * instalment month in the income year—the last day of that month; or (b) otherwise—the first day of the third last month of the previous income year. (5) Subsection (6) applies if, disregarding that subsection, an entity does not satisfy the requirement in subsection (1) for an income year. (6) For the purposes of this section, in determining the entity’s base assessment instalment income (within the meaning of section 45 ‑ 320) for the * base year: (a) disregard subsection 45 ‑ 120(2C); and (b) disregard paragraph (3)(a) of this section, to the extent that that paragraph relates to the operation of subsection 45 ‑ 120(2C). (7) If, because of subsection (6), the entity satisfies the requirement in subsection (1) for an income year, the entity must give the Commissioner a notice in the * approved form in respect of that income year before: (a) if the * starting instalment month in the income year is determined under paragraph 45 ‑ 136(2)(a)—the end of that starting instalment month; or (b) if the starting instalment month in the income year is determined under paragraph 45 ‑ 136(2)(b)—the start of that starting instalment month.

Amendment history: Inserted by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 45-140 — Choosing to pay annual instalments

(1) You may choose to pay instalments annually instead of quarterly if, at the end of the * starting instalment quarter, you satisfy the following conditions: (a) you are neither registered, nor * required to be registered, under Part 2 ‑ 5 of the * GST Act; and (b) you are not a partner in a partnership that is registered, or required to be registered, under that Part; and (c) your most recent * notional tax notified by the Commissioner is less than $8,000; and (d) in the case of a company—the company is not a * participant in a * GST joint venture under Division 51 of that Act; and (e) in the case of a company—the company is not part of an * instalment group. Note: You cannot choose to be an annual payer while you are the head company of a consolidated group to which Subdivision 45 ‑ Q applies: see section 45 ‑ 720. (1A) You may also choose at a time (subject to subsection (2)) to pay instalments annually instead of quarterly if at that time either: (a) an * annual tax period election of yours has effect and, if you are a partner in one or more partnerships that are registered under Part 2 ‑ 5 of the * GST Act, an annual tax period election of each of those partnerships has effect; or (b) all of the following subparagraphs apply: (i) you are neither registered, nor * required to be registered, under Part 2 ‑ 5 of the GST Act; (ii) you are a partner in one or more partnerships that are registered under that Part; (iii) an annual tax period election of each of those partnerships has effect; and at the end of the * starting instalment quarter, you satisfy the following conditions: (c) you are not a partner in a partnership that is required to be registered under Part 2 ‑ 5 of the GST Act; (d) your most recent * notional tax notified by the Commissioner is less than $8,000; (e) in the case of a company—the company is not a * participant in a * GST joint venture under Division 51 of that Act; (f) in the case of a company—the company is not part of an * instalment group. Note: You cannot choose to be an annual payer while you are the head company of a consolidated group to which Subdivision 45 ‑ Q applies: see section 45 ‑ 720. (2) You must make the choice under subsection (1) or (1A) by notifying the Commissioner, in the * approved form, on or before the day on which that instalment would otherwise be due. (3) You become an annual payer just before the end of the * starting instalment quarter if: (a) you satisfy the conditions in subsection (1) or (1A); and (b) you choose to pay instalment annually.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 68 of 2002, effective 24 Oct 2002 ( see s 2) | Amended by No 47 of 2009, effective sch 1 (items 1, 2, 6): 25 June 2009 sch 1 (items 3 ‑ 5): 1 July 2014 sch 2 (items 2 ‑ 15): Royal Assent

s 45-145 — Meaning of instalment group

(1) An instalment group consists of: (a) a company: (i) that has * majority control of at least one other company; but (ii) of which no other company has * majority control; and (b) any other company of which the first ‑ mentioned company has * majority control. (2) A company has majority control of another company if, and only if: (a) the first company is in a position to cast, or control the casting of, more than 50% of the maximum number of votes that might be cast at a general meeting of the other company; or (b) the first company has the power to appoint or remove the majority of the directors of the other company; or (c) the other company is, or a majority of its directors are, accustomed or under an obligation, whether formal or informal, to act according to the directions, instructions or wishes of the first company.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1))

s 45-150 — Entity stops being annual payer if involved with GST registration or instalment group

(1) You stop being an * annual payer if, during an * instalment quarter that is in an income year that starts after the commencement of this section: (a) you become * required to be registered under Part 2 ‑ 5 of the * GST Act; or (b) you become a partner in a partnership that is required to be registered under that Part; or (c) a partnership in which you are a partner becomes required to be registered under that Part; or (d) in the case of a company—the company becomes a * participant in a * GST joint venture under Division 51 of that Act; or (e) in the case of a company—the company becomes part of an * instalment group; or (f) an * annual tax period election of yours, or of a partnership in which you are a partner, ceases to have effect. (2) If you stop being an * annual payer under subsection (1): (a) you must still pay an annual instalment for the income year mentioned in that subsection; and (b) you must pay an instalment for each instalment quarter in the next income year for which subsection 45 ‑ 50(1) or (2) requires you to do so. (3) You may again become an * annual payer if: (a) after you stop being an * annual payer under subsection (1), you satisfy the conditions in subsection 45 ‑ 140(1) or (1A); and (b) you again choose under section 45 ‑ 140 to pay instalments annually.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Repealed and substituted by No 78 of 2005, effective 29 June 2005 | Amended by No 47 of 2009, effective sch 1 (items 1, 2, 6): 25 June 2009 sch 1 (items 3 ‑ 5): 1 July 2014 sch 2 (items 2 ‑ 15): Royal Assent

s 45-155 — Entity stops being annual payer if notional tax is $8,000 or more, or entity chooses to pay quarterly

(1) You stop being an * annual payer at the start of the first * instalment quarter in an income year (the current year ) if: (a) after the end of the first instalment quarter in the previous income year and before the end of the first instalment quarter in the current year, the Commissioner notifies you of your * notional tax, and it is $8,000 or more; or (b) you choose to pay instalments quarterly instead of annually. (1A) You must make the choice by notifying the Commissioner, in the * approved form, on or before the day on which the instalment for the first * instalment quarter for the current year would otherwise be due (disregarding subsection 45 ‑ 112(3)). (2) You must pay an instalment for the first * instalment quarter of the next income year, and later instalment quarters, in accordance with Subdivision 45 ‑ B. (3) You must still pay an annual instalment for the previous income year referred to in subsection (1). (4) You may again become an * annual payer at the end of the first * instalment quarter in a later income year if: (a) at that time, you satisfy the conditions in subsection 45 ‑ 140(1) or in paragraphs 45 ‑ 140(1A)(c), (d), (e) and (f); and (b) you again choose under section 45 ‑ 140 to pay annually.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 47 of 2009, effective sch 1 (items 1, 2, 6): 25 June 2009 sch 1 (items 3 ‑ 5): 1 July 2014 sch 2 (items 2 ‑ 15): Royal Assent

s 45-160 — Head company of a consolidated group stops being annual payer

(1) You stop being an * annual payer at the start of an * instalment quarter if Subdivision 45 ‑ Q starts applying to you as the * head company of a * consolidated group during that quarter. (2) You must pay an instalment for that * instalment quarter and later instalment quarters in accordance with Subdivision 45 ‑ B. (3) You may again become an * annual payer if: (a) after you stop being an * annual payer under subsection (1), you satisfy the conditions in subsection 45 ‑ 140(1) or (1A); and (b) you again choose under section 45 ‑ 140 to pay instalments annually. Note: You cannot choose to be an annual payer while you are the head company of a consolidated group to which Subdivision 45 ‑ Q applies: see section 45 ‑ 720.

Amendment history: Inserted by No 16 of 2003, effective sch 4 (items 8 ‑ 10), sch 6 (items 11, 12), sch 14 (items 8 ‑ 12), sch 23 (item 14), sch 24 (items 1 ‑ 19): 24 Oct 2002 (s 2(1) items 3, 4, 9, 13, 14) sch 28 (items 14 ‑ 18, 19(3)): 29 June 2002 (s 2(1) items 17, 19) | Amended by No 47 of 2009, effective sch 1 (items 1, 2, 6): 25 June 2009 sch 1 (items 3 ‑ 5): 1 July 2014 sch 2 (items 2 ‑ 15): Royal Assent

s 45-200 — Application

(1) This Subdivision applies if you are a * quarterly payer who pays on the basis of instalment income at the end of an * instalment quarter. (2) If you are a * monthly payer, this Subdivision has effect in relation to you in respect of an * instalment month in the same way in which it has effect in relation to a * quarterly payer in respect of an * instalment quarter.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 45-205 — Choosing a varied instalment rate

(1) You 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. (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. (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. (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). (5) Subsection (6) applies if you are a monthly payer. (6) Treat the references in subsections (1) and (4) to section 45 ‑ 110 as instead being references to section 45 ‑ 114.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 45-210 — Notifying Commissioner of varied instalment rate

If you work out the amount of an instalment using an instalment rate you have chosen under section 45 ‑ 205, you must specify that rate in the notice about your instalment income that you must give the Commissioner under section 45 ‑ 20.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1))

s 45-215 — Credit on using varied rate in certain cases

(1) You are entitled to claim a credit if: (a) the amount of your instalment for an * instalment quarter (the current quarter ) in an income year is to be worked out using an instalment rate you chose under section 45 ‑ 205; and (b) that rate is lower than the instalment rate you used to work out the amount of your instalment for the previous instalment quarter (if any) in the same income year; and (c) the amount worked out using the method statement is greater than nil. Method statement Step 1. Add up the instalments you are liable to pay for the earlier * instalment quarters in the income year (even if you have not yet paid all of them). Step 2. Subtract from the step 1 amount each earlier credit that you have claimed under this section or section 45 ‑ 420 in respect of the income year. Step 3. Multiply the total of your * instalment income for those earlier * instalment quarters by the instalment rate to be used for the current quarter. Step 4. Subtract the step 3 amount from the step 2 amount. Step 5. If the result is a positive amount, it is the amount of the credit you can claim. (2) A claim for a credit must be made in the * approved form on or before the day on which the instalment for the current quarter is due. Note: How the credit is applied is set out in Division 3 of Part IIB. (3) The credit entitlement does not affect your liability to pay an instalment.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Amended by No 44 of 2000, effective sch 1, sch 3 (items 55 ‑ 67), sch 4 (items 17 ‑ 48): 22 Dec 1999 (s 2(1)) sch 2 (item 12): 1 Apr 2000 (s 2(2)) sch 3 (item 68): 1 July 2000 (s 2(8)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3))

s 45-225 — Effect of Subdivision in relation to monthly payers

If you are a * monthly payer, this Subdivision has effect in relation to you in respect of an * instalment month in the same way in which it has effect in relation to a * quarterly payer in respect of an * instalment quarter.

Amendment history: Inserted by No 124 of 2013, effective sch 1 (items 1 ‑ 36, 45 ‑ 49), sch 5 (items 1 ‑ 6, 8): 29 June 2013 (s 2(1) items 2, 10) sch 11 (items 26, 27): 30 June 2013 (s 2(1) item 17)

s 45-230 — Liability to GIC on shortfall in quarterly instalment worked out on the basis of varied rate

(1) You are liable to pay the * general interest charge under this section if: (a) you use an instalment rate (the varied rate ) under section 45 ‑ 205 to work out the amount of your instalment for an * instalment quarter (the variation quarter ) in an income year; and (b) the varied rate is less than 85% of your * benchmark instalment rate for that income year that the Commissioner works out under Subdivision 45 ‑ K. (2) You are liable to pay the * general interest charge on the amount worked out as follows: where: rate discrepancy means the difference between the varied rate and the lesser of: (a) the most recent instalment rate given to you by the Commissioner before the end of the variation quarter; and (b) your * benchmark instalment rate for that income year. credit adjustment means: (a) if, as a result of using the varied rate for the variation quarter, you claimed a credit under section 45 ‑ 215—the amount worked out as follows: or the amount of the credit, whichever is less; and (b) otherwise—nil. (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. (3) You are liable to pay the charge for each day in the period that: (a) started at the beginning of the day by which the instalment for the variation quarter was due to be paid; and (b) finishes at the end of the day on which your assessed tax for the income year is due to be paid. (4) The Commissioner must give you written notice of the * general interest charge to which you are liable under subsection (2). You must pay the charge within 14 days after the notice is given to you. (5) If any of the * general interest charge to which you are liable under subsection (2) remains unpaid at the end of the 14 days referred to in subsection (4), you are also liable to pay the * general interest charge on the unpaid amount for each day in the period that: (a) starts at the end of those 14 days; and (b) finishes at the end of the last day on which, at the end of the day, any of the following remains unpaid: (i) the unpaid amount; (ii) general interest charge on the unpaid amount.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Amended by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4)) | Amended by No 68 of 2002, effective 24 Oct 2002 ( see s 2)

s 45-232 — Liability to GIC on shortfall in quarterly instalment worked out on the basis of estimated benchmark tax

(1) You are liable to pay the * general interest charge under this section if: (a) the amount of your instalment for an * instalment quarter (the variation quarter ) in an income year is worked out under paragraph 45 ‑ 112(1)(b) or (c) on the basis of your estimate of your * benchmark tax for that income year; and (b) the estimate used is less than 85% of your * benchmark tax for the income year (which the Commissioner works out under section 45 ‑ 365). Amount on which the charge is payable (2) You are liable to pay the * general interest charge on the amount worked out as follows (if it is a positive amount): where: acceptable amount , of your instalment for an * instalment quarter in an income year, has the meaning given by subsections (3), (3A), (3B), (3C) and (3D). actual amount means: (a) the amount of your instalment, as worked out on the basis of the estimate; or (b) if, as a result of using the estimate, you claimed a credit under section 45 ‑ 420 for the variation quarter—the amount of the credit, expressed as a negative amount. (3) If you are a * quarterly payer who pays 4 instalments annually on the basis of GDP ‑ adjusted notional tax, the acceptable amount of your instalment for that instalment quarter is: (a) if the amount of the instalment is worked out under paragraph 45 ‑ 112(1)(b) or (c)—the amount worked out using the table in this subsection (which can be a negative amount); or (b) otherwise—the amount notified to you by the Commissioner under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that * instalment quarter. Acceptable amount of an instalment Item If the * instalment quarter is: The acceptable amount of your instalment for that instalment quarter is: 1 the first in that income year for which you are liable to pay an instalment the lower of: (a) the amount that the Commissioner notified to you under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that * instalment quarter; and (b) 25% of your * benchmark tax for the income year (which the Commissioner works out under section 45 ‑ 365). 2 the second in that income year for which you are liable to pay an instalment the lower of: (a) the amount that the Commissioner would have notified to you under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that * instalment quarter if the amounts of all your instalments for that income year had been required to be worked out under Subdivision 45 ‑ L; and (b) the amount worked out by subtracting: • the * acceptable amount of your instalment for the earlier instalment quarter in that income year; from: • 50% of your * benchmark tax for the income year (which the Commissioner works out under section 45 ‑ 365). 3 the third in that income year for which you are liable to pay an instalment the lower of: (a) the amount that the Commissioner would have notified to you under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that * instalment quarter if the amounts of all your instalments for that income year had been required to be worked out under Subdivision 45 ‑ L; and (b) the amount worked out by subtracting: • the total of the * acceptable amounts of your instalments for the earlier instalment quarters in that income year; from: • 75% of your * benchmark tax for the income year (which the Commissioner works out under section 45 ‑ 365). 4 the fourth in that income year for which you are liable to pay an instalment the lower of: (a) the amount that the Commissioner would have notified to you under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that * instalment quarter if the amounts of all your instalments for that income year had been required to be worked out under Subdivision 45 ‑ L; and (b) the amount worked out by subtracting: • the total of the * acceptable amounts of your instalments for the earlier instalment quarters in that income year; from: • 100% of your * benchmark tax for the income year (which the Commissioner works out under section 45 ‑ 365). (3A) Subject to subsections (3B), (3C) and (3D), if you are a * quarterly payer who pays 2 instalments annually on the basis of GDP ‑ adjusted notional tax, the acceptable amount of your instalment for an * instalment quarter in an income year is: (a) if the amount of the instalment is worked out under paragraph 45 ‑ 112(1)(b) or (c)—the amount worked out using the table in this subsection (which can be a negative amount); or (b) otherwise—the amount notified to you by the Commissioner under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that instalment quarter. Acceptable amount of an instalment Item If the * instalment quarter is: The acceptable amount of your instalment for that instalment quarter is: 1 the third * instalment quarter in that income year the lower of: (a) the amount that the Commissioner notified to you under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that * instalment quarter; and (b) 75% of your * benchmark tax for the income year (which the Commissioner works out under section 45 ‑ 365). 2 the fourth * instalment quarter in that income year the lower of: (a) the amount that the Commissioner would have notified to you under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that * instalment quarter if the amounts of all your instalments for that income year had been required to be worked out under Subdivision 45 ‑ L; and (b) the amount worked out by subtracting: • the * acceptable amount of your instalment for the earlier instalment quarter in that income year; from: • 100% of your * benchmark tax for the income year (which the Commissioner works out under section 45 ‑ 365). (3B) If: (a) you are a * quarterly payer who pays 2 instalments annually on the basis of GDP ‑ adjusted notional tax; and (b) the Commissioner first gives you an instalment rate during the second * instalment quarter in an income year; the acceptable amount of your instalment for an instalment quarter in that income year is: (c) if the amount of the instalment is worked out under paragraph 45 ‑ 112(1)(b) or (c)—the amount worked out using the table in this subsection (which can be a negative amount); or (d) otherwise—the amount notified to you by the Commissioner under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that instalment quarter. Acceptable amount of an instalment Item If the * instalment quarter is: The acceptable amount of your instalment for that instalment quarter is: 1 the third * instalment quarter in that income year the lower of: (a) the amount that the Commissioner notified to you under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that * instalment quarter; and (b) 50% of your * benchmark tax for the income year (which the Commissioner works out under section 45 ‑ 365). 2 the fourth * instalment quarter in that income year the lower of: (a) the amount that the Commissioner would have notified to you under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that * instalment quarter if the amounts of all your instalments for that income year had been required to be worked out under Subdivision 45 ‑ L; and (b) the amount worked out by subtracting: • the * acceptable amount of your instalment for the earlier instalment quarter in that income year; from: • 75% of your * benchmark tax for the income year (which the Commissioner works out under section 45 ‑ 365). (3C) If: (a) you are a * quarterly payer who pays 2 instalments annually on the basis of GDP ‑ adjusted notional tax; and (b) the Commissioner first gives you an instalment rate during the third * instalment quarter in an income year; the acceptable amount of your instalment for an instalment quarter in that income year is: (c) if the amount of the instalment is worked out under paragraph 45 ‑ 112(1)(b) or (c)—the amount worked out using the table in this subsection (which can be a negative amount); or (d) otherwise—the amount notified to you by the Commissioner under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that instalment quarter. Acceptable amount of an instalment Item If the * instalment quarter is: The acceptable amount of your instalment for that instalment quarter is: 1 the third * instalment quarter in that income year the lower of: (a) the amount that the Commissioner notified to you under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that * instalment quarter; and (b) 25% of your * benchmark tax for the income year (which the Commissioner works out under section 45 ‑ 365). 2 the fourth * instalment quarter in that income year the lower of: (a) the amount that the Commissioner would have notified to you under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that * instalment quarter if the amounts of all your instalments for that income year had been required to be worked out under Subdivision 45 ‑ L; and (b) the amount worked out by subtracting: • the * acceptable amount of your instalment for the earlier instalment quarter in that income year; from: • 50% of your * benchmark tax for the income year (which the Commissioner works out under section 45 ‑ 365). (3D) If: (a) you are a * quarterly payer who pays 2 instalments annually on the basis of GDP ‑ adjusted notional tax; and (b) the Commissioner first gives you an instalment rate during the fourth * instalment quarter in an income year; the acceptable amount of your instalment for an instalment quarter in that income year is the lower of the following amounts: (c) the amount that the Commissioner notified to you under paragraph 45 ‑ 112(1)(a) as the amount of your instalment for that instalment quarter; (d) 25% of your * benchmark tax for the income year (which the Commissioner works out under section 45 ‑ 365). Period for which the charge is payable (4) You are liable to pay the charge for each day in the period that: (a) started at the beginning of the day by which the instalment for the variation quarter was due to be paid; and (b) finishes at the end of the day on which your assessed tax for the income year is due to be paid. Commissioner to notify you (5) The Commissioner must give you written notice of the * general interest charge to which you are liable under subsection (2). You must pay the charge within 14 days after the notice is given to you. Further charge if charge under subsection (2) remains unpaid (6) If any of the * general interest charge to which you are liable under subsection (2) remains unpaid at the end of the 14 days referred to in subsection (5), you are also liable to pay the * general interest charge on the unpaid amount for each day in the period that: (a) starts at the end of those 14 days; and (b) finishes at the end of the last day on which, at the end of the day, any of the following remains unpaid: (i) the unpaid amount; (ii) general interest charge on the unpaid amount. Modifications for subsidiary member of consolidated group (7) Subsections (1) to (6) apply to you with the modifications set out in subsections (8) to (10) if the variation quarter is in a * consolidation transitional year for you as a * subsidiary member of a * consolidated group. (8) For the purposes of subsection (7), a reference in subsection (1), (3), (3A), (3B), (3C) and (3D) to your * benchmark tax for that year is taken to be a reference to the amount worked out as follows: (9) For the purposes of subsection (7), a reference in this section to: (a) the acceptable amount of your instalment for an * instalment quarter in an income year; or (b) the acceptable amount of your instalment for the earlier instalment quarter in an income year; or (c) the acceptable amounts of your instalments for the earlier instalment quarters in an income year; is taken to be a reference to so much of the acceptable amount of instalment or acceptable amounts of instalments, worked out under subsection (3), (3A), (3B), (3C) or (3D) for that quarter or those quarters (as appropriate), 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. (10) For the purposes of subsection (7), a reference to the actual amount in subsection (2) is taken to be a reference to so much of the actual amount worked out under that subsection as is reasonably attributable to the period in the variation quarter during which you are not a * subsidiary member of the group.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Amended by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 68 of 2002, effective 24 Oct 2002 ( see s 2)

s 45-233 — Reduction in GIC liability under section 45 ‑ 232 if shortfall is made up in later instalment

(1) This section reduces the amount (the shortfall ) on which you are liable to pay the * general interest charge under subsection 45 ‑ 232(2) if, for a later * instalment quarter (the later quarter ) that is in the same income year as the variation quarter, the amount worked out as follows is a negative amount: That amount (expressed as a positive number) is called the top up . (2) For the purposes of the formula in subsection (1): actual amount of your instalment for the later quarter means: (a) the amount of your instalment for the later quarter, as worked out under section 45 ‑ 112; or (b) if you claimed a credit under section 45 ‑ 420 for the later quarter—the amount of the credit, expressed as a negative amount. Amount of the reduction (3) The shortfall is reduced by applying so much of the top up as does not exceed the shortfall. (4) However, if some of the top up has already been applied (under any other application or applications of this section) to reduce the amount on which you are liable to pay the * general interest charge under subsection 45 ‑ 232(2) as it applies to a different * instalment quarter, the shortfall is reduced by applying so much of the top up as has not already been applied, and does not exceed the shortfall. Period for which reduction has effect (5) The reduction has effect for each day in the period that: (a) started at the beginning of the day by which the instalment for the later quarter was due to be paid; and (b) finishes at the end of the day on which your assessed tax for the income year is due to be paid.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Amended by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4))

s 45-235 — Liability to GIC on shortfall in annual instalment

(1) You are liable to pay the * general interest charge under this section if: (a) you choose to estimate the amount of your instalment (the estimated instalment amount ) for an income year under paragraph 45 ‑ 115(1)(c) or former paragraph 45 ‑ 175(1)(b); and (b) that amount is less than 85% of your * benchmark tax for the income year (which the Commissioner works out under section 45 ‑ 365). (2) If you estimated the amount of the instalment under former paragraph 45 ‑ 175(1)(b), you are liable to pay the * general interest charge on the difference between the estimated instalment amount and the lower of the following amounts: (a) your most recent * notional tax notified by the Commissioner at least 30 days before the day on which the instalment was due; (b) your * benchmark tax for the income year. (3) If you estimated the amount of the instalment under paragraph 45 ‑ 115(1)(c), you are liable to pay the * general interest charge on the difference between the estimated instalment amount and the lowest of the following amounts: (a) the amount of your instalment worked out using the most recent instalment rate given to you by the Commissioner before the end of the income year; (b) your most recent * notional tax notified by the Commissioner before the end of the income year under subsection 45 ‑ 320(5); (c) your * benchmark tax for the income year. (4) You are liable to pay the charge for each day in the period that: (a) started at the beginning of the day by which the instalment for the income year was due to be paid; and (b) finishes at the end of the day on which your assessed tax for the income year is due to be paid. (5) The Commissioner must give you written notice of the * general interest charge to which you are liable under subsection (2) or (3). You must pay the charge within 14 days after the notice is given to you. (6) If any of the * general interest charge to which you are liable under subsection (2) or (3) remains unpaid at the end of the 14 days referred to in subsection (5), you are also liable to pay the * general interest charge on the unpaid amount for each day in the period that: (a) starts at the end of those 14 days; and (b) finishes at the end of the last day on which, at the end of the day, any of the following remains unpaid: (i) the unpaid amount; (ii) general interest charge on the unpaid amount.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 91 of 2000, effective sch 1, sch 2 (items 68 ‑ 120, 142A, 143, 144): 1 July 2000 (s 3(1)) sch 3 (items 1 ‑ 16): 22 Dec 1999 (s 3(4)) | Amended by No 101 of 2006, effective sch 3, 4: 1 Jan 2008 Remainder: Royal Assent | Amended by No 110 of 2014, effective sch 4 (items 2, 3), sch 5 (items 68 ‑ 75, 123 ‑ 140): 16 Oct 2014 (s 2(1) items 3, 4, 7)

s 45-240 — Commissioner may remit general interest charge

The Commissioner may, if he or she is satisfied that because special circumstances exist it would be fair and reasonable to do so, remit the whole or any part of any * general interest charge payable under subsection 45 ‑ 230(2) or 45 ‑ 232(2) or subsection 45 ‑ 235(2) or (3).

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12))

s 45-260 — Instalment income for a period in which you are in a partnership

(1) Your instalment income for a period (the current period ) includes an amount for each partnership in which you are a partner at any time during the current period. The amount is worked out using the formula: (2) For the purposes of the formula in subsection (1): your assessable income from the partnership for the last income year means so much of your individual interest in the partnership’s net income for an income year as was included by section 92 of the Income Tax Assessment Act 1936 in your assessable income for the most recent income year: (a) that ended before the start of the current period; and (b) for which you have an assessment, or for which the Commissioner has notified you that you do not have a taxable income. (3) However, if for any reason the component defined in subsection (2) does not exist or is a nil amount, or the partnership had no * instalment income for that income year, your instalment income for the current period includes, for that partnership, an amount that is fair and reasonable having regard to: (a) the extent of your interest in the partnership during the current period; and (b) the partnership’s * instalment income for the current period; and (c) any other relevant circumstances. Exception for corporate limited partnerships (4) Your instalment income for the current period does not include an amount for a partnership that is a * corporate limited partnership for the income year that is or includes that period. Note: Your instalment income will still include a distribution by the partnership that is ordinary income. See section 45 ‑ 120.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 44 of 2000, effective sch 1, sch 3 (items 55 ‑ 67), sch 4 (items 17 ‑ 48): 22 Dec 1999 (s 2(1)) sch 2 (item 12): 1 Apr 2000 (s 2(2)) sch 3 (item 68): 1 July 2000 (s 2(8))

s 45-280 — Instalment income for a period in which you are a beneficiary of a trust

(1) Your instalment income for a period (the current period ) includes an amount for each trust of which you are a beneficiary at any time during the current period. The amount is worked out using the formula: (2) For the purposes of the formula in subsection (1): your assessable income from the trust for the last income year means so much of a share of the trust’s net income for an income year as: (a) Division 6 of Part III of the Income Tax Assessment Act 1936 included in your assessable income for the most recent income year: (i) that ended before the start of the current period; and (ii) for which you have an assessment, or for which the Commissioner has notified you that you do not have a taxable income; and (b) is not attributable to a * capital gain made by the trust. Note: For exceptions to paragraph (b), see section 45 ‑ 290. (3) However, if for any reason the component defined in subsection (2) does not exist or is a nil amount, or the trust had no * instalment income for that income year, your instalment income for the current period includes, for that trust, an amount that is fair and reasonable having regard to: (a) the extent of your interest in the trust, and your interest in the income of the trust, during the current period; and (b) the trust’s * instalment income for the current period; and (c) any other relevant circumstances. Exception for corporate unit trusts and public trading trusts (4) Your instalment income for the current period does not include an amount for a trust if the trustee is liable to be assessed, and to pay tax, under section 102S of the Income Tax Assessment Act 1936 for the income year that is or includes that period. Note: Your instalment income will still include a distribution by the trust that is ordinary income. See section 45 ‑ 120. Exception for certain resident unit trusts (5) Your instalment income for the current period does not include an amount for a trust under subsection (1) if the conditions in either subsection 45 ‑ 285(1) or (2) are satisfied for you for that trust for that period. Note: Your instalment income will instead include a distribution by the trust: see section 45 ‑ 285. Exception for trusts whose beneficiary is absolutely entitled (6) Your instalment income for the current period does not include an amount for a trust under subsection (1) if, throughout the current period: (a) the trustee of the trust did not have any active duties to perform in the management of the trust (other than the duty to deal with the trust income and capital in accordance with any requests made or directions given by the beneficiary or beneficiaries); and (b) if there was only one beneficiary, the beneficiary: (i) was absolutely entitled to the trust assets; and (ii) had a vested and indefeasible interest in any trust income arising from time to time; and (c) if there was more than one beneficiary, each beneficiary: (i) was absolutely entitled to that beneficiary’s interest in the trust assets; and (ii) had a vested and indefeasible interest in a proportion of any trust income arising from time to time, being a proportion that corresponded to the beneficiary’s proportional interest in the trust capital. Instead, your instalment income for the current period includes the following amount:

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 44 of 2000, effective sch 1, sch 3 (items 55 ‑ 67), sch 4 (items 17 ‑ 48): 22 Dec 1999 (s 2(1)) sch 2 (item 12): 1 Apr 2000 (s 2(2)) sch 3 (item 68): 1 July 2000 (s 2(8)) | Amended by No 173 of 2000, effective sch 2: 22 Dec 1999 (s 2(2)) | Amended by No 53 of 2016, effective sch 1 (items 2 ‑ 4), sch 3 (items 5 ‑ 23), sch 4 (items 6 ‑ 9), sch 5 (items 73 ‑ 75), sch 6 (items 35 ‑ 68), sch 8 (item 1): 5 May 2016 (s 2(1) items 2, 4) sch 7 (items 1, 2): 1 July 2014 (s 2(1) item 3)

s 45-285 — Instalment income includes distributions by certain resident unit trusts

(1) Your instalment income for a period includes trust income or trust capital that a unit trust distributes to you, or applies for your benefit, during that period if: (a) the unit trust is a resident unit trust (within the meaning of section 102Q of the Income Tax Assessment Act 1936 ) for the income year of the trust that is or includes that period; and (b) throughout that period: (i) any of the units in the trust were listed for quotation in the official list of a stock exchange in Australia or elsewhere; or (ii) any of the units in the trust were offered to the public; or (iii) the units in the trust were held by at least 50 persons; and (c) section 45 ‑ 287 in this Schedule did not apply to the trust at any time during that period; and (d) throughout that period, the trust’s activities consisted only of activities listed in the definition of eligible investment business in section 102M of the Income Tax Assessment Act 1936 . (It does not matter whether the trust income or trust capital is included in your assessable income for the income year that is or includes that period.) (2) Your instalment income for a period also includes trust income or trust capital that a unit trust distributes to you, or applies for your benefit, during that period if: (a) the income or capital is not included in your instalment income under subsection (1); and (b) the unit trust is a resident unit trust (within the meaning of section 102Q of the Income Tax Assessment Act 1936 ) for the income year of the trust that is or includes that period; and (c) throughout that period, the trust’s activities consisted only of activities listed in the definition of eligible investment business in section 102M of the Income Tax Assessment Act 1936 ; and (d) throughout that period, either: (i) you are yourself the trustee of a unit trust that satisfies each of paragraphs (1)(a) to (d) of this section; or (ii) you are yourself the trustee of one or more trusts covered by section 45 ‑ 288; or (iii) you are exempt from tax; or (iv) you are a * complying superannuation entity or a statutory fund of a * life insurance company. (It does not matter whether the trust income or trust capital is included in your assessable income for the income year that is or includes that period.) Extension—nominee and bare trust situations (3) In determining, for the purposes of subparagraph (1)(b)(iii), how many persons hold units in a unit trust, if: (a) another trust (the holding trust ) is a unit holder in the unit trust; and (b) the holding trust is a trust of the kind covered by subsection 45 ‑ 280(6); and (c) the beneficiary’s or beneficiaries’ absolute entitlement exists at all times while the holding trust is in existence; the beneficiary or beneficiaries count as persons who hold units in the unit trust, and the trustee of the holding trust does not.

Amendment history: Inserted by No 173 of 2000, effective sch 2: 22 Dec 1999 (s 2(2))

s 45-286 — Instalment income includes distributions by certain managed investment trusts

Your instalment income for a period includes trust income or trust capital that a trust distributes to you, or applies for your benefit, during that period if: (a) the income or capital is not included in your instalment income under section 45 ‑ 280 or 45 ‑ 285; and (b) the trust satisfies the condition in paragraph 275 ‑ 10(3)(a) of the Income Tax Assessment Act 1997 in relation to the income year that is or includes that period; and (c) the trust is a * managed investment trust for that income year; and (d) the trust meets the requirement in section 275 ‑ 110 of that Act throughout the income year. (It does not matter whether the trust income or trust capital is included in your assessable income for the income year that is or includes that period.)

Amendment history: Inserted by No 56 of 2010, effective s 4(2), sch 3 (items 9, 10(1), (5)), sch 5 (items 191 ‑ 193), sch 6 (items 12 ‑ 14, 27 ‑ 36, 44 ‑ 53, 110, 111, 116, 159, 160): 3 June 2010 (s 2(1) items 1, 7, 11, 15, 20, 23) sch 1 (item 8): 17 Dec 2010 (s 2(1) item 4) sch 2 (items 3, 4), sch 6 (items 58 ‑ 97, 101 ‑ 105): 4 June 2010 (s 2(1) items 6, 16, 17) | Amended by No 90 of 2010, effective sch 3, sch 5 (items 4, 5, 7): 29 June 2010 (s 2(1) item 3) | Amended by No 53 of 2016, effective sch 1 (items 2 ‑ 4), sch 3 (items 5 ‑ 23), sch 4 (items 6 ‑ 9), sch 5 (items 73 ‑ 75), sch 6 (items 35 ‑ 68), sch 8 (item 1): 5 May 2016 (s 2(1) items 2, 4) sch 7 (items 1, 2): 1 July 2014 (s 2(1) item 3)

s 45-287 — When trusts are disqualified due to concentrated ownership

Concentrated ownership (1) This section applies to a trust if an individual holds, or up to 20 individuals hold between them directly or indirectly and for their own benefit, interests in the trust: (a) carrying * fixed entitlements to: (i) at least 75% of the trust’s income; or (ii) at least 75% of the trust’s capital; or (b) if beneficiaries of the trust have a right to vote in respect of activities of the trust—carrying at least 75% of those voting rights. Single individual (2) Subsection (1) operates as if all of these were a single individual: (a) an individual, whether or not the individual holds interests in the trust; and (b) the individual’s * associates; and (c) for any interests in respect of which other individuals are nominees of the individual or of the individual’s associates—those other individuals. Concentrated ownership—potential due to possible variation of rights etc. (3) This section also applies to a trust if, because of: (a) any provision in the trust’s constituent document, or in any contract, agreement or instrument: (i) authorising the variation or abrogation of rights attaching to any of the interests in the trust; or (ii) relating to the conversion, cancellation, extinguishment or redemption of any of those interests; or (b) any contract, * arrangement, option or instrument under which a person has power to acquire any of those interests; or (c) any power, authority or discretion in a person in relation to the rights attaching to any of those interests; it is reasonable to conclude that the rights attaching to any of the interests are capable of being varied or abrogated in such a way (even if they are not in fact varied or abrogated in that way) that, directly or indirectly, the trust would be disqualified under subsection (1). Tracing (4) In applying this section: (a) if a * complying superannuation fund, * approved deposit fund or * superannuation fund for foreign residents has more than 50 members and has, directly or indirectly, a * fixed entitlement to any of the trust’s income or capital—that entitlement is taken to be held by more than 20 individuals for their own benefit; and (b) if a complying superannuation fund, approved deposit fund or superannuation fund for foreign residents has 50 or fewer members and has, directly or indirectly, a fixed entitlement to any of the trust’s income or capital—each of the members is taken to have a share of that entitlement, in equal proportions, for his or her own benefit.

Amendment history: Inserted by No 173 of 2000, effective sch 2: 22 Dec 1999 (s 2(2)) | Amended by No 9 of 2007, effective sch 1 (items 19 ‑ 24), sch 2 (items 4, 5), sch 4 (items 11 ‑ 16), sch 5 (items 31 ‑ 36): 15 Mar 2007 (s 2(1) items 2 ‑ 8) | Amended by No 41 of 2011, effective sch 5 (items 10 ‑ 14, 21 ‑ 23): 28 June 2011 sch 5 (item 24): 1 July 2011 ( see s 2(1)) sch 5 (items 34, 35, 146, 147, 168 ‑ 172, 401 ‑ 411, 421, 422): Royal Assent

s 45-288 — Resident investment trusts for beneficiaries who are absolutely entitled

This section covers a trust if: (a) the trust is a resident unit trust within the meaning of section 102Q of the Income Tax Assessment Act 1936 ; and (b) the trust is of the kind covered by subsection 45 ‑ 280(6) in this Schedule; and (c) the requests or directions that beneficiaries may give the trustee are limited to requests or directions as to which of the activities listed in the definition of eligible investment business in section 102M of the Income Tax Assessment Act 1936 the trustee should engage in; and (d) all of the trust’s beneficiaries became beneficiaries as a result of a public offer to invest in the trust; and (e) either: (i) the trust has 50 or more beneficiaries; or (ii) if the trustee of the trust is also the trustee of one or more other trusts that satisfy paragraphs (a), (b), (c) and (d) of this section—all those trusts together have a total of 50 or more beneficiaries.

Amendment history: Inserted by No 173 of 2000, effective sch 2: 22 Dec 1999 (s 2(2)) | Amended by No 56 of 2010, effective s 4(2), sch 3 (items 9, 10(1), (5)), sch 5 (items 191 ‑ 193), sch 6 (items 12 ‑ 14, 27 ‑ 36, 44 ‑ 53, 110, 111, 116, 159, 160): 3 June 2010 (s 2(1) items 1, 7, 11, 15, 20, 23) sch 1 (item 8): 17 Dec 2010 (s 2(1) item 4) sch 2 (items 3, 4), sch 6 (items 58 ‑ 97, 101 ‑ 105): 4 June 2010 (s 2(1) items 6, 16, 17)

s 45-290 — Exceptions to exclusion of trust capital gains from beneficiary’s instalment income

(1) This section sets out cases where paragraph (b) of the definition of your assessable income from the trust for the last income year in subsection 45 ‑ 280(2) does not apply. (2) It does not apply in the case of: (a) a * complying approved deposit fund or a * non ‑ complying approved deposit fund for the income year that is or includes the current period; or (b) a * complying superannuation fund or a * non ‑ complying superannuation fund for that year; or (c) a * pooled superannuation trust for that year. (3) It does not apply in the case of a * life insurance company to the extent that the share of the trust’s net income is included in the * complying superannuation class of its taxable income for the income year that is or includes the current period.

Amendment history: Inserted by No 44 of 2000, effective sch 1, sch 3 (items 55 ‑ 67), sch 4 (items 17 ‑ 48): 22 Dec 1999 (s 2(1)) sch 2 (item 12): 1 Apr 2000 (s 2(2)) sch 3 (item 68): 1 July 2000 (s 2(8)) | Amended by No 173 of 2000, effective sch 2: 22 Dec 1999 (s 2(2)) | Amended by No 15 of 2007, effective sch 1 (items 366 ‑ 393, 406(1) ‑ (3)), sch 3 (items 61 ‑ 66), sch 4 (item 12): 15 Mar 2007 (s 2(1) items 2, 8, 12) | Amended by No 45 of 2008, effective sch 1 (items 53 ‑ 66), sch 4 (item 64), sch 6 (items 18 ‑ 21), sch 7 (item 56): 26 June 2008 | Amended by No 70 of 2015, effective sch 1 (items 151 ‑ 174, 195 ‑ 205): 1 July 2015 (s 2(1) items 3, 6) sch 6 (items 51 ‑ 59): 25 June 2015 (s 2(1) item 17)

s 45-320 — Working out instalment rate

(1) Except as provided by section 45 ‑ 775, an instalment rate that the Commissioner gives you must be the percentage worked out to 2 decimal places (rounding up if the third decimal place is 5 or more) using the formula: However, the instalment rate must be a nil rate if either component of the formula is nil. (2) For the purposes of the formula in subsection (1): base assessment instalment income means so much of your assessable income, as worked out for the purposes of the * base assessment, as the Commissioner determines is * instalment income for the * base year. (3) The base assessment is the latest assessment for your most recent income year for which an assessment has been made. However, if the Commissioner is satisfied that there is a later income year for which you do not have a taxable income, the base assessment is the latest return or other information from which an assessment for that income year would have been made. (4) The base year is the income year to which the * base assessment relates. (5) When the Commissioner gives you the instalment rate, he or she must also notify you of the amount of your * notional tax, as worked out for the purposes of working out the instalment rate.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 68 of 2002, effective 24 Oct 2002 ( see s 2) | Amended by No 81 of 2016, effective sch 1 (items 10 ‑ 25, 33, 36), sch 2 (items 19, 20), sch 10 (items 55 ‑ 65, 86 ‑ 93): 1 Jan 2017 (s 2(1) items 2, 6) sch 10 (items 1, 29 ‑ 47, 49 ‑ 54): 1 July 2018 (s 2(1) item 5)

s 45-325 — Working out your notional tax

Notional tax if you have no withholding income (1) Your notional tax is your * adjusted tax (worked out under section 45 ‑ 340) on your * adjusted taxable income (worked out under section 45 ‑ 330) for the * base year. Notional tax if you have no ‑ TFN contributions income (1A) In working out the notional tax of a * complying superannuation fund, * non ‑ complying superannuation fund or * RSA provider for the * base year, assume that the entity had no * no ‑ TFN contributions income for the base year and that the entity was not entitled to a * tax offset for the base year under Subdivision 295 ‑ J of the Income Tax Assessment Act 1997 . Notional tax if you have withholding income (2) However, your notional tax (as worked out under subsection (1)) is reduced if your assessable income for the * base assessment includes amounts in respect of * withholding payments (except * non ‑ quotation withholding payments). (3) It is reduced (but not below nil) by your * adjusted tax (worked out under section 45 ‑ 340) on your * adjusted withholding income (worked out under section 45 ‑ 335) for the * base year. Commissioner may take into account effect of the law, as applying to income years after base year (4) For the purposes of working out your * notional tax, the Commissioner may work out an amount as if provisions of an Act or regulations, as they may reasonably be expected to apply for the purposes of your assessment for a later income year, had applied for the purposes of the * base assessment. Commissioner may take into account proposed changes to the law so as to reduce instalment rate (5) For the purposes of working out your * notional tax, the Commissioner may work out an amount as if provisions of an Act or regulations that, in the Commissioner’s opinion, are likely to be enacted or made had applied for the purposes of the * base assessment. But the Commissioner may do so only if, as a result, the instalment rate given to you is reduced. (6) If the * base year is the income year immediately preceding the income year in which 1 July 2000 occurred, subsections (4) and (5) apply for the purpose of working out the * base assessment instalment income of a * life insurance company in the same way as they apply for the purpose of working out such a company’s * notional tax.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 89 of 2000, effective sch 2 (items 114, 116), sch 7: 22 Dec 1999 (s 2(6), (10)) sch 2 (items 115, 117): 30 June 2000 (s 2(1)) | Amended by No 143 of 2007, effective sch 1 (items 212, 222, 225, 226), sch 4 (items 47, 48, 51, 52), sch 5 (items 29, 30, 48(1), (4), (5)), sch 7 (items 99 ‑ 102, 104(3)): 24 Sept 2007 (s 2(1) items 2, 4, 5, 7, 11) sch 5 (item 47): 15 Mar 2007 (s 2(1) item 6)

s 45-330 — Working out your adjusted taxable income

(1) Your adjusted taxable income for the * base year is your total assessable income for the * base assessment, reduced by: (a) any * net capital gain included in that assessable income; and (b) your deductions for the base year (except * tax losses), as used in making that assessment; and (c) the amount of any tax loss, to the extent that it is * unutilised at the end of the base year. Exception: superannuation entities and net capital gains (2) Paragraph (1)(a) does not apply in the case of: (a) a * complying approved deposit fund or a * non ‑ complying approved deposit fund for the * base year; or (b) a * complying superannuation fund or a * non ‑ complying superannuation fund for that year; or (c) a * pooled superannuation trust for that year. Special rule for some entities (2A) If an entity: (a) has * tax losses transferred to it under Subdivision 707 ‑ A of the Income Tax Assessment Act 1997 ; or (b) is a * corporate tax entity at any time during the * base year; the adjusted taxable income of the entity for the base year is worked out under subsection (1) as if paragraph (1)(c) were replaced by the following provision: (c) the lesser of the following amounts: (i) the amount of any tax loss, to the extent that it is * unutilised at the end of the base year; (ii) the amount of the deductions for tax losses used in making your * base assessment. Amounts assessable under Subdivision 250 ‑ E of the Income Tax Assessment Act 1997 (2AA) To avoid doubt, paragraph (1)(a) does not apply to a * net capital gain that is included in your assessable income under Subdivision 250 ‑ E of the Income Tax Assessment Act 1997 . Special rule for life insurance companies (3) The adjusted taxable income of a * life insurance company for the * base year is worked out as follows: Method statement Step 1. Recalculate the taxable income of the * ordinary class for the * base assessment on the basis that it did not include any * net capital gain. Step 2. Add to the step 1 result the deductions for * tax losses of the * ordinary class that were used in making the * base assessment. Step 3. Reduce the step 2 result by the lesser of the following amounts: (a) the amount of any * tax losses of the * ordinary class, to the extent that they are * unutilised at the end of the * base year; (b) deductions for tax losses of the ordinary class that were used in making the * base assessment. Step 4. Add to the step 3 result the taxable income of the * complying superannuation class for the * base assessment. Step 5. Add to the step 4 result the deductions for * tax losses of the * complying superannuation class that were used in making the * base assessment. Step 6. Reduce the step 5 result by the lesser of the following amounts: (a) the amount of any * tax losses of the * complying superannuation class, to the extent that they are * unutilised at the end of the * base year; (b) deductions for tax losses of the complying superannuation class that were used in making the * base assessment. The result of this step is the adjusted taxable income of the company for the * base year.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 44 of 2000, effective sch 1, sch 3 (items 55 ‑ 67), sch 4 (items 17 ‑ 48): 22 Dec 1999 (s 2(1)) sch 2 (item 12): 1 Apr 2000 (s 2(2)) sch 3 (item 68): 1 July 2000 (s 2(8)) | Amended by No 89 of 2000, effective sch 2 (items 114, 116), sch 7: 22 Dec 1999 (s 2(6), (10)) sch 2 (items 115, 117): 30 June 2000 (s 2(1)) | Amended by No 68 of 2002, effective 24 Oct 2002 ( see s 2) | Amended by No 16 of 2003, effective sch 4 (items 8 ‑ 10), sch 6 (items 11, 12), sch 14 (items 8 ‑ 12), sch 23 (item 14), sch 24 (items 1 ‑ 19): 24 Oct 2002 (s 2(1) items 3, 4, 9, 13, 14) sch 28 (items 14 ‑ 18, 19(3)): 29 June 2002 (s 2(1) items 17, 19) | Amended by No 142 of 2003, effective sch 8 (items 22, 23, 24(4)): Royal Assent | Amended by No 83 of 2004, effective sch 1 (item 84): 30 June 2000 (s 2(1) item 2) sch 1 (item 107): 17 Dec 2003 (s 2(1) item 11) sch 1 (items 125, 126(1), (6), (11)): 25 June 2004 (s 2(1) item 12) | Amended by No 15 of 2007, effective sch 1 (items 366 ‑ 393, 406(1) ‑ (3)), sch 3 (items 61 ‑ 66), sch 4 (item 12): 15 Mar 2007 (s 2(1) items 2, 8, 12) | Amended by No 164 of 2007, effective sch 1 (items 68 ‑ 70, 71(12)): Royal Assent | Amended by No 45 of 2008, effective sch 1 (items 53 ‑ 66), sch 4 (item 64), sch 6 (items 18 ‑ 21), sch 7 (item 56): 26 June 2008 | Amended by No 88 of 2013, effective sch 5 (items 22 ‑ 27): 1 July 2013 (s 2(1) item 10) sch 6 (items 44 ‑ 48, 66): 29 June 2013 (s 2(1) item 14) sch 7 (items 167 ‑ 183): 1 July 2012 (s 2(1) item 11) sch 7 (item 225): 28 June 2013 (s 2(1) item 23) | Amended by No 70 of 2015, effective sch 1 (items 151 ‑ 174, 195 ‑ 205): 1 July 2015 (s 2(1) items 3, 6) sch 6 (items 51 ‑ 59): 25 June 2015 (s 2(1) item 17)

s 45-335 — Working out your adjusted withholding income

Your adjusted withholding income for the * base year is: • the total of the amounts included in your assessable income for the * base assessment in respect of * withholding payments (except * non ‑ quotation withholding payments); reduced by: • your deductions for that year, as used in making that assessment, to the extent that they reasonably relate to those amounts.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1))

s 45-340 — Adjusted tax on adjusted taxable income or on adjusted withholding income

Your adjusted tax on your * adjusted taxable income, or on your * adjusted withholding income, for the * base year is worked out as follows: Method statement Step 1. The income tax payable on your * adjusted taxable income, or on your * adjusted withholding income, for the * base year is worked out disregarding any * tax offset under: (aa) section 61 ‑ 110 of the Income Tax Assessment Act 1997 (the Low Income tax offset); or (a) Subdivision 61 ‑ G of the Income Tax Assessment Act 1997 (the private health insurance tax offset); or (da) Subdivision 61 ‑ L of the Income Tax Assessment Act 1997 (tax offset for Medicare levy surcharge (lump sum payments in arrears)); or (db) Division 160 of the Income Tax Assessment Act 1997 (the corporate loss carry back tax offset for 2020 ‑ 21, 2021 ‑ 22 or 2022 ‑ 23 for businesses with turnover under $5 billion); or (e) section 205 ‑ 70 of the Income Tax Assessment Act 1997 (the tax offset for * franking deficit tax liabilities); or (g) section 290 ‑ 230 of the Income Tax Assessment Act 1997 (the tax offset for superannuation contributions made for a spouse); or (ga) Subdivision 360 ‑ A of the Income Tax Assessment Act 1997 (the tax offset for early stage investors in innovation companies); or (h) Subdivision 418 ‑ B of the Income Tax Assessment Act 1997 (the junior minerals exploration incentive tax offset). Step 2. The * Medicare levy payable on your * adjusted taxable income, or on your * adjusted withholding income, for the * base year is worked out disregarding sections 8B, 8C, 8D, 8E, 8F and 8G of the Medicare Levy Act 1986 (which increase Medicare levy in certain cases). Step 3. The amount (if any) that you would have been liable to pay for the * base year in respect of an * accumulated HELP debt if your taxable income for the base year had been your * adjusted taxable income, or your * adjusted withholding income, for that year is worked out. Step 3AAA. The amount (if any) that you would have been liable to pay for the * base year in respect of an * accumulated VETSL debt if your taxable income for the base year had been your * adjusted taxable income, or your * adjusted withholding income, for that year is worked out. Step 3AA. The amount (if any) that you would have been liable to pay for the * base year in respect of an * accumulated SSL debt if your taxable income for the base year had been your * adjusted taxable income, or your * adjusted withholding income, for that year is worked out. Step 3AB. The amount (if any) that you would have been liable to pay for the * base year in respect of an * accumulated ABSTUDY SSL debt if your taxable income for the base year had been your * adjusted taxable income, or your * adjusted withholding income, for that year is worked out. Step 3AC. The amount (if any) that you would have been liable to pay for the * base year in respect of an * accumulated AASL debt if your taxable income for the base year had been your * adjusted taxable income, or your * adjusted withholding income, for that year is worked out. Step 3A. The amount (if any) that you would have been liable to pay for the * base year by way of an * FS assessment debt if your taxable income for the base year had been your * adjusted taxable income, or your * adjusted withholding income, for that year is worked out. Step 4. The results of steps 1, 2, 3, 3AAA, 3AA, 3AB, 3AC and 3A are added together. The result is your adjusted tax on your * adjusted taxable income, or on your * adjusted withholding income.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 44 of 2000, effective sch 1, sch 3 (items 55 ‑ 67), sch 4 (items 17 ‑ 48): 22 Dec 1999 (s 2(1)) sch 2 (item 12): 1 Apr 2000 (s 2(2)) sch 3 (item 68): 1 July 2000 (s 2(8)) | Amended by No 107 of 2003, effective sch 2 (items 15 ‑ 26, 40), sch 7 (items 19 ‑ 22): Royal Assent | Amended by No 150 of 2003, effective sch 2 (items 152 ‑ 160): 1 Jan 2004 (s 2(1) item 16) | Amended by No 41 of 2005, effective sch 1 (items 12, 13), sch 10 (items 233 ‑ 241, 275): Royal Assent | Amended by No 77 of 2005, effective 29 June 2005 | Amended by No 160 of 2005, effective sch 4: 6 June 2006 ( see F2006L01656) Remainder: Royal Assent | Amended by No 80 of 2006, effective sch 4 (items 10 ‑ 14), sch 6 (items 10, 11), sch 7 (items 4 ‑ 6): Royal Assent | Amended by No 15 of 2007, effective sch 1 (items 366 ‑ 393, 406(1) ‑ (3)), sch 3 (items 61 ‑ 66), sch 4 (item 12): 15 Mar 2007 (s 2(1) items 2, 8, 12) | Amended by No 32 of 2007, effective sch 3 (items 17, 18): 1 July 2007 | Amended by No 141 of 2008, effective sch 1 (items 8 ‑ 10): Royal Assent | Amended by No 56 of 2010, effective s 4(2), sch 3 (items 9, 10(1), (5)), sch 5 (items 191 ‑ 193), sch 6 (items 12 ‑ 14, 27 ‑ 36, 44 ‑ 53, 110, 111, 116, 159, 160): 3 June 2010 (s 2(1) items 1, 7, 11, 15, 20, 23) sch 1 (item 8): 17 Dec 2010 (s 2(1) item 4) sch 2 (items 3, 4), sch 6 (items 58 ‑ 97, 101 ‑ 105): 4 June 2010 (s 2(1) items 6, 16, 17) | Amended by No 12 of 2012, effective sch 6 (items 27 ‑ 29): 22 Dec 1999 (s 2(1) item 11) sch 6 (items 84 ‑ 93, 186, 187, 191, 192, 212, 213, 218, 241 ‑ 246, 248 ‑ 251): 21 Mar 2012 (s 2(1) items 14, 31) sch 6 (item 182): 3 Oct 2008 (s 2(1) item 30) | Amended by No 23 of 2012, effective sch 1 (items 9, 10): Royal Assent | Amended by No 88 of 2013, effective sch 5 (items 22 ‑ 27): 1 July 2013 (s 2(1) item 10) sch 6 (items 44 ‑ 48, 66): 29 June 2013 (s 2(1) item 14) sch 7 (items 167 ‑ 183): 1 July 2012 (s 2(1) item 11) sch 7 (item 225): 28 June 2013 (s 2(1) item 23) | Amended by No 82 of 2014, effective sch 1 (items 8 ‑ 24): 18 July 2014 (s 2(1) item 2) | Amended by No 96 of 2014, effective sch 1 (items 54 ‑ 108, 122 ‑ 124), sch 2 (items 41 ‑ 43): 30 Sept 2014 (s 2(1) item 2, F2014L01256) | Amended by No 109 of 2014, effective sch 10 (items 18, 19): 17 Oct 2014 (s 2(1) item 8) | Amended by No 20 of 2015, effective sch 1 (items 4 ‑ 6): 20 Mar 2015 (s 2(1) item 2) | Amended by No 21 of 2015, effective sch 1 (items 18 ‑ 49), sch 5, sch 7 (items 33 ‑ 43): 20 Mar 2015 (s 2(1) items 2, 6, 15) sch 2 (items 39 ‑ 46): 1 May 2015 (s 2(1) item 3) sch 4 (items 8, 9): 1 July 2015 (s 2(1) item 5) sch 6 (items 26 ‑ 37, 73): 19 Mar 2015 (s 2(1) item 11, 13) sch 6 (items 60 ‑ 72, 74 ‑ 79): never commenced (s 2(1) items 12, 14) | Amended by No 169 of 2015, effective sch 1 (items 82 ‑ 99, 111): 1 Jan 2016 (s 2(1) item 2) | Amended by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6) | Amended by No 15 of 2018, effective sch 1 (items 26A ‑ 28, 65 ‑ 67): 1 Apr 2018 (s 2(1) items 2, 4) sch 1 (items 53 ‑ 64, 68 ‑ 73): repealed before commencing (s 2(1) items 3, 5) | Amended by No 47 of 2018, effective sch 1 (items 8, 9): 1 July 2018 (s 2(1) item 2) sch 1 (items 16 ‑ 18): repealed before commencing (s 2(1) item 3) | Amended by No 116 of 2018, effective sch 1 (items 47 ‑ 60): 1 July 2019 (s 2(1) items 10 ‑ 12) | Amended by No 49 of 2019, effective sch 4 (items 105 ‑ 111): 1 July 2019 (s 2(1) item 12) | Amended by No 92 of 2020, effective sch 1 (items 22 ‑ 24): 15 Oct 2020 (s 2(1) item 4) sch 2 (item 36), sch 3 (items 37 ‑ 40), sch 6 (items 1 ‑ 3): 1 Jan 2021 (s 2(1) item 7) | Amended by No 8 of 2022, effective sch 6 (item 23), sch 8 (items 35, 36): 1 Apr 2022 (s 2(1) items 6, 10) sch 8 (item 32): 23 Feb 2022 (s 2(1) item 9) sch 8 (items 41 ‑ 43): 4 Apr 2021 (s 2(1) item 12) | Amended by No 61 of 2023, effective sch 1 (items 137 ‑ 148, 156 ‑ ‑ 165): 1 Jan 2024 (s 2(1) item 1)

s 45-355 — When Commissioner works out benchmark instalment rate and benchmark tax

(1) The Commissioner may work out your * benchmark instalment rate for an income year (the variation year ) if, under section 45 ‑ 205, you choose an instalment rate to work out the amount of your instalment for an * instalment quarter in that year. (1A) The Commissioner may work out your * benchmark tax for an income year (the variation year ) if, under paragraph 45 ‑ 112(1)(b) or (c), the amount of your instalment for an * instalment quarter in an income year is worked out on the basis of your estimate of your * benchmark tax for that income year. (2) The Commissioner may work out your * benchmark tax for an income year (the variation year ) if, under paragraph 45 ‑ 115(1)(c), you estimate the amount of your annual instalment for that year.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Amended by No 101 of 2006, effective sch 3, 4: 1 Jan 2008 Remainder: Royal Assent

s 45-360 — How Commissioner works out benchmark instalment rate

(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: However, your benchmark instalment rate is a nil rate if either component of the formula is nil. (2) For the purposes of the formula in subsection (1): variation year instalment income means so much of your assessable income for the variation year as the Commissioner determines is * instalment income for that year.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1))

s 45-365 — Working out your benchmark tax

Benchmark tax if you had no withholding income (1) Your benchmark tax is your * adjusted assessed tax (worked out under section 45 ‑ 375) on your * adjusted assessed taxable income (worked out under section 45 ‑ 370) for the variation year. Benchmark tax if you have no ‑ TFN contributions income (1A) In working out the benchmark tax of a * complying superannuation fund, * non ‑ complying superannuation fund or * RSA provider for the variation year, assume that the entity had no * no ‑ TFN contributions income for the variation year and that the entity was not entitled to a * tax offset for the variation year under Subdivision 295 ‑ J of the Income Tax Assessment Act 1997 . Benchmark tax if you had withholding income (2) However, your benchmark tax (as worked out under subsection (1)) is reduced if your assessable income for the variation year includes amounts in respect of * withholding payments. (3) It is reduced (but not below nil) by the sum of: (a) the total amount of the credits to which you are entitled for the variation year under section 18 ‑ 15 (for amounts withheld from withholding payments made to you during the variation year); and (b) the total amount of the credits to which you are entitled for the variation year under section 18 ‑ 27 (for amounts paid under Division 13 in respect of amounts included in your assessable income under section 86 ‑ 15 of the Income Tax Assessment Act 1997 ).

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 86 of 2000, effective sch 1 (items 26A, 26B, 27 ‑ 58): 30 June 2000 (s 2(1)) | Amended by No 143 of 2007, effective sch 1 (items 212, 222, 225, 226), sch 4 (items 47, 48, 51, 52), sch 5 (items 29, 30, 48(1), (4), (5)), sch 7 (items 99 ‑ 102, 104(3)): 24 Sept 2007 (s 2(1) items 2, 4, 5, 7, 11) sch 5 (item 47): 15 Mar 2007 (s 2(1) item 6)

s 45-370 — Working out your adjusted assessed taxable income for the variation year

(1) Your adjusted assessed taxable income for the variation year is your taxable income for the year, reduced by any * net capital gain included in your assessable income for the year. Exception: superannuation entities and net capital gains (2) In working out the adjusted assessed taxable income , taxable income is not reduced by any * net capital gain in the case of: (a) a * complying approved deposit fund or a * non ‑ complying approved deposit fund for the variation year; or (b) a * complying superannuation fund or a * non ‑ complying superannuation fund for the variation year; or (c) a * pooled superannuation trust for the variation year. Special rule for life insurance companies (3) The adjusted assessed taxable income of a * life insurance company for the variation year is worked out as follows: Method statement Step 1. Recalculate the * ordinary class of the taxable income for the variation year on the basis that the assessable income that relates to the class did not include any * net capital gain. Step 2. Add to the step 1 result the * complying superannuation class of the taxable income for the variation year.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 89 of 2000, effective sch 2 (items 114, 116), sch 7: 22 Dec 1999 (s 2(6), (10)) sch 2 (items 115, 117): 30 June 2000 (s 2(1)) | Amended by No 15 of 2007, effective sch 1 (items 366 ‑ 393, 406(1) ‑ (3)), sch 3 (items 61 ‑ 66), sch 4 (item 12): 15 Mar 2007 (s 2(1) items 2, 8, 12) | Amended by No 45 of 2008, effective sch 1 (items 53 ‑ 66), sch 4 (item 64), sch 6 (items 18 ‑ 21), sch 7 (item 56): 26 June 2008 | Amended by No 70 of 2015, effective sch 1 (items 151 ‑ 174, 195 ‑ 205): 1 July 2015 (s 2(1) items 3, 6) sch 6 (items 51 ‑ 59): 25 June 2015 (s 2(1) item 17)

s 45-375 — Adjusted assessed tax on adjusted assessed taxable income

Your adjusted assessed tax on your * adjusted assessed taxable income for the variation year is worked out as follows: Method statement Step 1. The income tax payable on your * adjusted assessed taxable income for the variation year is worked out disregarding any * tax offset under: (aa) section 61 ‑ 110 of the Income Tax Assessment Act 1997 (the Low Income tax offset); or (a) Subdivision 61 ‑ G of the Income Tax Assessment Act 1997 (the private health insurance tax offset); or (ca) Subdivision 61 ‑ L of the Income Tax Assessment Act 1997 (tax offset for Medicare levy surcharge (lump sum payments in arrears)); or (d) section 205 ‑ 70 of the Income Tax Assessment Act 1997 (the tax offset for * franking deficit tax liabilities); or (f) section 290 ‑ 230 of the Income Tax Assessment Act 1997 (the tax offset for superannuation contributions made for a spouse); or (fa) Subdivision 360 ‑ A of the Income Tax Assessment Act 1997 (the tax offset for early stage investors in innovation companies); or (g) Subdivision 418 ‑ B of the Income Tax Assessment Act 1997 (the junior minerals exploration incentive tax offset). Step 2. The * Medicare levy payable on your * adjusted assessed taxable income for the variation year is worked out disregarding sections 8B, 8C, 8D, 8E, 8F and 8G of the Medicare Levy Act 1986 (which increase Medicare levy in certain cases). Step 3. The amount (if any) that you would have been liable to pay for the variation year in respect of an * accumulated HELP debt if your taxable income for that year had been your * adjusted assessed taxable income for that year is worked out. Step 3AAA. The amount (if any) that you would have been liable to pay for the variation year in respect of an * accumulated VETSL debt if your taxable income for that year had been your * adjusted assessed taxable income for that year is worked out. Step 3AA. The amount (if any) that you would have been liable to pay for the variation year in respect of an * accumulated SSL debt if your taxable income for that year had been your * adjusted assessed taxable income for that year is worked out. Step 3AB. The amount (if any) that you would have been liable to pay for the variation year in respect of an * accumulated ABSTUDY SSL debt if your taxable income for that year had been your * adjusted assessed taxable income for that year is worked out. Step 3AC. The amount (if any) that you would have been liable to pay for the variation year in respect of an * accumulated AASL debt if your taxable income for that year had been your * adjusted assessed taxable income for that year is worked out. Step 3A. The amount (if any) that you would have been liable to pay for the variation year by way of an * FS assessment debt if your taxable income for that year had been your * adjusted assessed taxable income for that year is worked out. Step 4. The results of steps 1, 2, 3, 3AAA, 3AA, 3AB, 3AC and 3A are added together. The result is your adjusted assessed tax on your * adjusted assessed taxable income for the variation year.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 44 of 2000, effective sch 1, sch 3 (items 55 ‑ 67), sch 4 (items 17 ‑ 48): 22 Dec 1999 (s 2(1)) sch 2 (item 12): 1 Apr 2000 (s 2(2)) sch 3 (item 68): 1 July 2000 (s 2(8)) | Amended by No 107 of 2003, effective sch 2 (items 15 ‑ 26, 40), sch 7 (items 19 ‑ 22): Royal Assent | Amended by No 150 of 2003, effective sch 2 (items 152 ‑ 160): 1 Jan 2004 (s 2(1) item 16) | Amended by No 77 of 2005, effective 29 June 2005 | Amended by No 160 of 2005, effective sch 4: 6 June 2006 ( see F2006L01656) Remainder: Royal Assent | Amended by No 80 of 2006, effective sch 4 (items 10 ‑ 14), sch 6 (items 10, 11), sch 7 (items 4 ‑ 6): Royal Assent | Amended by No 15 of 2007, effective sch 1 (items 366 ‑ 393, 406(1) ‑ (3)), sch 3 (items 61 ‑ 66), sch 4 (item 12): 15 Mar 2007 (s 2(1) items 2, 8, 12) | Amended by No 32 of 2007, effective sch 3 (items 17, 18): 1 July 2007 | Amended by No 141 of 2008, effective sch 1 (items 8 ‑ 10): Royal Assent | Amended by No 56 of 2010, effective s 4(2), sch 3 (items 9, 10(1), (5)), sch 5 (items 191 ‑ 193), sch 6 (items 12 ‑ 14, 27 ‑ 36, 44 ‑ 53, 110, 111, 116, 159, 160): 3 June 2010 (s 2(1) items 1, 7, 11, 15, 20, 23) sch 1 (item 8): 17 Dec 2010 (s 2(1) item 4) sch 2 (items 3, 4), sch 6 (items 58 ‑ 97, 101 ‑ 105): 4 June 2010 (s 2(1) items 6, 16, 17) | Amended by No 12 of 2012, effective sch 6 (items 27 ‑ 29): 22 Dec 1999 (s 2(1) item 11) sch 6 (items 84 ‑ 93, 186, 187, 191, 192, 212, 213, 218, 241 ‑ 246, 248 ‑ 251): 21 Mar 2012 (s 2(1) items 14, 31) sch 6 (item 182): 3 Oct 2008 (s 2(1) item 30) | Amended by No 82 of 2014, effective sch 1 (items 8 ‑ 24): 18 July 2014 (s 2(1) item 2) | Amended by No 109 of 2014, effective sch 10 (items 18, 19): 17 Oct 2014 (s 2(1) item 8) | Amended by No 20 of 2015, effective sch 1 (items 4 ‑ 6): 20 Mar 2015 (s 2(1) item 2) | Amended by No 21 of 2015, effective sch 1 (items 18 ‑ 49), sch 5, sch 7 (items 33 ‑ 43): 20 Mar 2015 (s 2(1) items 2, 6, 15) sch 2 (items 39 ‑ 46): 1 May 2015 (s 2(1) item 3) sch 4 (items 8, 9): 1 July 2015 (s 2(1) item 5) sch 6 (items 26 ‑ 37, 73): 19 Mar 2015 (s 2(1) item 11, 13) sch 6 (items 60 ‑ 72, 74 ‑ 79): never commenced (s 2(1) items 12, 14) | Amended by No 169 of 2015, effective sch 1 (items 82 ‑ 99, 111): 1 Jan 2016 (s 2(1) item 2) | Amended by No 54 of 2016, effective sch 1 (items 15 ‑ 19), sch 2 (items 57 ‑ 61, 63, 76): 1 July 2016 (s 2(1) items 2, 3, 7) sch 2 (item 75): never commenced (s 2(1) item 6) | Amended by No 15 of 2018, effective sch 1 (items 26A ‑ 28, 65 ‑ 67): 1 Apr 2018 (s 2(1) items 2, 4) sch 1 (items 53 ‑ 64, 68 ‑ 73): repealed before commencing (s 2(1) items 3, 5) | Amended by No 47 of 2018, effective sch 1 (items 8, 9): 1 July 2018 (s 2(1) item 2) sch 1 (items 16 ‑ 18): repealed before commencing (s 2(1) item 3) | Amended by No 116 of 2018, effective sch 1 (items 47 ‑ 60): 1 July 2019 (s 2(1) items 10 ‑ 12) | Amended by No 49 of 2019, effective sch 4 (items 105 ‑ 111): 1 July 2019 (s 2(1) item 12) | Amended by No 92 of 2020, effective sch 1 (items 22 ‑ 24): 15 Oct 2020 (s 2(1) item 4) sch 2 (item 36), sch 3 (items 37 ‑ 40), sch 6 (items 1 ‑ 3): 1 Jan 2021 (s 2(1) item 7) | Amended by No 61 of 2023, effective sch 1 (items 137 ‑ 148, 156 ‑ ‑ 165): 1 Jan 2024 (s 2(1) item 1)

s 45-400 — Working out amount of instalment—payers of 4 quarterly instalments

Scope (1) This section applies if you are a * quarterly payer who pays 4 instalments annually on the basis of GDP ‑ adjusted notional tax at the end of an * instalment quarter in an income year (the current year ). Working out amount of instalment (2) The amount of your instalment for that * instalment quarter which the Commissioner must work out and notify to you under paragraph 45 ‑ 112(1)(a) is: (a) the amount worked out in accordance with the table if it is positive; or (b) otherwise—nil. Amount of quarterly instalment worked out on basis of GDP ‑ adjusted notional tax Item If the instalment quarter is: The amount of the instalment is: 1 the first in that income year for which you are liable to pay an instalment 25% of your * GDP ‑ adjusted notional tax 2 the second in that income year for which you are liable to pay an instalment 50% of your * GDP ‑ adjusted notional tax, reduced by the amount of your instalment for the earlier * instalment quarter in that income year 3 the third in that income year for which you are liable to pay an instalment 75% of your * GDP ‑ adjusted notional tax, reduced by the total of your instalments for earlier * instalment quarters in that income year 4 the fourth in that income year for which you are liable to pay an instalment 100% of your * GDP ‑ adjusted notional tax, reduced by the total of your instalments for earlier * instalment quarters in that income year Note: Your instalments for earlier instalment quarters may have been worked out on a basis other than GDP ‑ adjusted notional tax. Amount reduced in circumstances specified by regulations (3) In the circumstances (if any) specified by the regulations, the amount worked out in accordance with the table in subsection (2) is reduced by the amount worked out under the regulations. (4) Without limiting subsection (3), the regulations may specify circumstances by: (a) specifying the particular * instalment quarter to which the reduction applies; or (b) specifying the kind of payers to whom the reduction applies. (5) In working out, under subsection (2), the amount of your instalment for an * instalment quarter in an income year, assume that there had not been any reductions under subsection (3) for earlier instalment quarters in that year.

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 27 of 2009, effective sch 1 (items 1 ‑ 3, 5): Royal Assent sch 1 (item 4): 1 July 2013 sch 2 (items 64 ‑ 66), sch 3 (items 11 ‑ 18, 102(1)): 27 Mar 2009

s 45-402 — Working out amount of instalment—payers of 2 quarterly instalments

(1) This section applies if you are a * quarterly payer who pays 2 instalments annually on the basis of GDP ‑ adjusted notional tax at the end of an * instalment quarter in an income year (the current year ). (2) If you are liable to pay an instalment for that * instalment quarter, the amount of that instalment which the Commissioner must work out and notify to you under paragraph 45 ‑ 112(1)(a) is: (a) the amount worked out in accordance with this section if it is positive; or (b) otherwise—nil. Amount of instalment (3) Subject to subsections (4) to (6), the amount of that instalment is worked out in accordance with the following table: Amount of quarterly instalment Item If the * instalment quarter is: the amount of the instalment is: 1 the third * instalment quarter in the income year 75% of your * GDP ‑ adjusted notional tax 2 the fourth * instalment quarter in the income year 100% of your * GDP ‑ adjusted notional tax, reduced by your instalment for earlier instalment quarter in that income year You receive instalment rate for the first time in second quarter (4) If the Commissioner gives you an instalment rate for the first time during the second * instalment quarter in that income year, the amount of the instalment is worked out in accordance with the following table: Amount of quarterly instalment Item If the * instalment quarter is: the amount of the instalment is: 1 the third * instalment quarter in the income year 50% of your * GDP ‑ adjusted notional tax 2 the fourth * instalment quarter in the income year 75% of your * GDP ‑ adjusted notional tax, reduced by your instalment for the earlier instalment quarter in that income year You receive instalment rate for the first time in third quarter (5) If the Commissioner first gives you an instalment rate during the third * instalment quarter in that income year, the amount of the instalment is worked out in accordance with the following table: Amount of quarterly instalment Item If the * instalment quarter is: the amount of the instalment is: 1 the third * instalment quarter in the income year 25% of your * GDP ‑ adjusted notional tax 2 the fourth * instalment quarter in the income year 50% of your * GDP ‑ adjusted notional tax, reduced by your instalment for the earlier instalment quarter in that income year You receive instalment rate for the first time in fourth quarter (6) If the Commissioner first gives you an instalment rate during the fourth * instalment quarter in that income year, the amount of the instalment must be equal to 25% of your * GDP ‑ adjusted notional tax.

Amendment history: Inserted by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 43 of 2011, effective sch 1 (items 1 ‑ 4, 12): 28 June 2011 (s 2(1) items 2, 4) sch 1 (items 9 ‑ 11): 1 July 2016 (s 2(1) item 3) sch 4: 27 June 2011 (s 2(1) item 9)

s 45-405 — Working out your GDP ‑ adjusted notional tax

(1) Except as provided by section 45 ‑ 775, your GDP ‑ adjusted notional tax is worked out in the same way as your * notional tax would be worked out for the purposes of working out an instalment rate if that instalment rate were to be given to you at the same time as notice of the amount of the instalment referred to in section 45 ‑ 400 or 45 ‑ 402 (as appropriate). (2) However, for the purposes of subsection (1): (a) your * adjusted taxable income for the * base year; and (b) your * adjusted withholding income (if any) for the * base year; are each increased in accordance with the formula: (3) For the purposes of the formula in subsection (2): original amount means the amount that, apart from subsection (2), would be your * adjusted taxable income for the * base year, or your * adjusted withholding income for the * base year, as appropriate. GDP adjustment means: (a) the percentage (rounded to the nearest whole number, rounding down a number ending in .5) worked out using the following formula; or (b) if the percentage worked out using the formula is negative—0%: (4) For the purposes of the formula in subsection (3): sum of GDP amounts (current year) means the sum of the * GDP amounts, for the * quarters in the last calendar year (the later calendar year ) ending at least 3 months before the start of the current year, specified in the document referred to in subsection (6). sum of GDP amounts (previous year) means the sum of the * GDP amounts, for the * quarters in the calendar year (the earlier calendar year ) before the later calendar year, specified in the document referred to in subsection (6). (5) The GDP amount for a * quarter is the amount published by the Australian Statistician as the original gross domestic product at current prices for that quarter. (6) The GDP adjustment must be worked out on the basis of the first document that: (a) is published by the Australian Statistician after the end of the later calendar year; and (b) sets out the * GDP amounts for all the * quarters in both the later calendar year and the earlier calendar year. (7) To avoid doubt, subsections 45 ‑ 325(4) and (5) also have effect for the purposes of working out your * GDP ‑ adjusted notional tax. Reduced GDP adjustment for 2022 ‑ 23 income year (9) Despite subsections (3) and (6), if the current year is the 2022 ‑ 23 income year, then for the purposes of the formula in subsection (2) the GDP adjustment is 2%. Note: This subsection will be repealed on 1 July 2027: see Part 2 of Schedule 5 to the Treasury Laws Amendment (Cost of Living Support and Other Measures) Act 2022 . Reduced GDP adjustment for 2023 ‑ 24 income year (10) Despite subsections (3) and (6), if the current year is the 2023 ‑ 24 income year, then for the purposes of the formula in subsection (2) the GDP adjustment is 6%. Note: This subsection will be repealed on 1 July 2028: see Part 2 of Schedule 4 to the Treasury Laws Amendment (2023 Measures No. 2) Act 2023 .

Amendment history: Inserted by No 178 of 1999, effective sch 1 (items 1 ‑ 4, 85 ‑ 88), sch 2 (items 1 ‑ 22, 35, 36, 75 ‑ 82, 92, 93): 22 Dec 1999 (s 2(1)) | Amended by No 44 of 2000, effective sch 1, sch 3 (items 55 ‑ 67), sch 4 (items 17 ‑ 48): 22 Dec 1999 (s 2(1)) sch 2 (item 12): 1 Apr 2000 (s 2(2)) sch 3 (item 68): 1 July 2000 (s 2(8)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3)) | Amended by No 68 of 2002, effective 24 Oct 2002 ( see s 2) | Amended by No 47 of 2009, effective sch 1 (items 1, 2, 6): 25 June 2009 sch 1 (items 3 ‑ 5): 1 July 2014 sch 2 (items 2 ‑ 15): Royal Assent | Amended by No 43 of 2011, effective sch 1 (items 1 ‑ 4, 12): 28 June 2011 (s 2(1) items 2, 4) sch 1 (items 9 ‑ 11): 1 July 2016 (s 2(1) item 3) sch 4: 27 June 2011 (s 2(1) item 9) | Amended by No 61 of 2020, effective sch 5 (items 1, 2): 1 July 2020 (s 2(1) item 7) sch 5 (item 3): 1 July 2025 (s 2(1) item 8) | Amended by No 14 of 2022, effective sch 5 (items 1, 2): 1 Apr 2022 (s 2(1) item 5) sch 5 (item 3): 1 July 2027 (s 2(1) item 6) | Amended by No 28 of 2023, effective sch 4 (items 1, 2): 24 June 2023 (s 2(1) item 4) sch 4 (item 3): 1 July 2028 (s 2(1) item 5)

s 45-410 — Working out amount of instalment—payers of 4 quarterly instalments

(1A) This section applies if you are a * quarterly payer who pays 4 instalments annually on the basis of GDP ‑ adjusted notional tax at the end of an * instalment quarter in an income year (the current year ). (1) For the purposes of paragraph 45 ‑ 112(1)(b) or (c), the amount of your instalment for that * instalment quarter in an income year is: (a) the amount worked out, in accordance with this section, on the basis of the estimate of your * benchmark tax for that income year that section 45 ‑ 415 requires to be used, if that amount is positive; or (b) otherwise—nil. Note: If the amount is negative, you can claim a credit under section 45 ‑ 420. First instalment quarter (2) If the * instalment quarter is the first in that income year for which you are liable to pay an instalment, the amount is 25% of the estimate of your * benchmark tax. Second instalment quarter (3) If the * instalment quarter is the second in that income year for which you are liable to pay an instalment, the amount is worked out by subtracting: • the amount of your instalment under section 45 ‑ 112 for the earlier * instalment quarter in that income year; from: • 50% of the estimate of your * benchmark tax. Third instalment quarter (4) If the * instalment quarter is the third in that income year for which you are liable to pay an instalment, the amount is worked out using this method statement. Method statement Step 1. The total of your instalments under section 45 ‑ 112 for earlier * instalment quarters in that income year is subtracted from 75% of the estimate of your * benchmark tax. Step 2. If you were entitled to claim a credit under section 45 ‑ 420 for the second of those earlier * instalment quarters, the amount of the credit is added to the step 1 amount. Fourth instalment quarter (5) If the * instalment quarter is the fourth in that income year for which you are liable to pay an instalment, the amount is worked out using this method statement. Method statement Step 1. The total of your instalments under section 45 ‑ 112 for earlier * instalment quarters in that income year is subtracted from the estimate of your * benchmark tax. Step 2. For each credit that you were entitled to claim under section 45 ‑ 420 for any of those earlier * instalment quarters, the amount of the credit is added to the step 1 amount.

Amendment history: Inserted by No 179 of 1999, effective sch 1 (items 1 ‑ 4, 7, 8), sch 2 (items 1 ‑ 4, 86 ‑ 93, 103 ‑ 107, 130, 131), sch 3 (items 1, 2), sch 4, sch 5 (items 69, 73, 74), sch 6 (items 14 ‑ 24), sch 10 (items 1 ‑ 18), sch 12 (item 21), sch 14: 22 Dec 1999 (s 2(1) ‑ (6), (7)(b), (c)) sch 2 (items 94 ‑ 102), sch 11 (items 111, 112), sch 12 (items 4 ‑ 20), sch 15 (items 9 ‑ 18): 1 July 2000 (s 2(8), (9)(b), (12)) | Amended by No 73 of 2001, effective sch 1 (items 21, 22, 58 ‑ 62(1)), sch 2 (items 1 ‑ 40, 53, 86 ‑ 95(1)), sch 3 (items 20 ‑ 33), sch 4 (items 1, 10), sch 5: 30 June 2001 (s 2(1)) sch 2 (items 48 ‑ 52): 1 Jan 2001 (s 2(2)) sch 3 (items 35, 36): 1 Apr 2001 (s 2(3))