Document ID: chunk:federal_register_of_legislation:C2011A00147:clause:3_3:p1
Version: federal_register_of_legislation:C2011A00147
Segment Type: clause
Provision Reference: sch 3 cl 3 (pt 1/2)
Character Range: 20408–23029

3  Application of amendments

Main rule
(1) Subitem (2) applies to you if:
 (a) the Commissioner gives you an instalment rate under section 45‑15 in Schedule 1 to the Taxation Administration Act 1953 at a time that is:
 (i) after this Act receives the Royal Assent; and
 (ii) in the first instalment quarter in an income year (the commencing year); and
 (b) the base year that applies in working out that rate is your first TOFA year, or a later year.
(2) Subject to subitems (4) and (6), the amended instalment income definition applies to you in working out:
 (a) your base assessment instalment income for the base year mentioned in paragraph (1)(b), and later years; and
 (b) your instalment income for periods in the commencing year, and later years.

Partnerships
(3) Subitem (4) applies in relation to your instalment income for a period if:
 (a) the period starts after this Act receives the Royal Assent; and
 (b) you are a partner in a partnership at any time during the period; and
 (c) in working out the amount to be included in your instalment income for the period under section 45‑260 in Schedule 1 to the Taxation Administration Act 1953, the last income year mentioned in the numerator of the formula in subsection 45‑260(1) in that Schedule is:
 (i) the first TOFA year for the partnership; or
 (ii) a later year.
(4) For the purpose of working out the amount to be included in your instalment income for the period (the current period) under section 45‑260 in Schedule 1 to the Taxation Administration Act 1953, the amended instalment income definition applies in working out the instalment income of the partnership for:
 (a) the last income year mentioned in the numerator of the formula in subsection 45‑260(1) in that Schedule; and
 (b) the current period.

Trusts
(5) Subitem (6) applies in relation to your instalment income for a period if:
 (a) the period starts after this Act receives the Royal Assent; and
 (b) you are a beneficiary of a trust at any time during the period; and
 (c) in working out the amount to be included in your instalment income for the period under section 45‑280 in Schedule 1 to the Taxation Administration Act 1953, the last income year mentioned in the numerator of the formula in subsection 45‑280(1) in that Schedule is:
 (i) the first TOFA year for the trust; or
 (ii) a later year.
(6) For the purpose of working out the amount to be included in your instalment income for the period (the current period) under section 45‑280 in Schedule 1 to the Taxation Administration Act 1953, the amended instalment income definition applies in working out the instalment