Document ID: chunk:federal_register_of_legislation:C2010C00715:clause:1_4:p9
Version: federal_register_of_legislation:C2010C00715
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 9/20)
Character Range: 140701–143272

writing by the Commissioner and is at least 30 days after the Commissioner gives you the notice. If that day is earlier than 31 March in that income year, the instalment is due on or before that 31 March.

 (3) However, in the case of an entity that is an instalment taxpayer for that income year (as defined by subsection 221AZK(1) of the Income Tax Assessment Act 1936), the instalment is due on or before the 15th day of the 6th month after the end of that income year.

45‑175  Amount of annual instalment

 (1) Unless subsection (2) applies, the amount of an annual instalment you are liable to pay for the 2000‑01 or 2001‑02 income year is whichever of the following you choose:
 (a) your most recent *notional tax notified by the Commissioner at least 30 days before the day on which the instalment is due;
 (b) the amount that you estimate will be your *benchmark tax for the income year.

Note: You may be liable to general interest charge under section 45‑235 if working out your instalment under paragraph (b) 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) If an entity is an instalment taxpayer (as defined by subsection 221AZK(1) of the Income Tax Assessment Act 1936) for the 2000‑01 or 2001‑02 income year, the amount of an annual instalment that the entity is liable to pay for that income year is worked out under section 45‑115, as if that section applied to that income year.

45‑180  Entity that becomes GST registered, participant in GST joint venture, or company group member stops being annual payer

 (1) You stop being an *annual payer if, during an *instalment quarter in the 2000‑01 or 2001‑02 income year:
 (a) you become registered, or *required to be registered, under Part 2‑5 of the *GST Act; or
 (b) you become a partner in a partnership that is registered, or required to be registered, under that Part; or
 (c) a partnership in which you are a partner becomes registered, or 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.

 (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 income year referred to in subsection (1).

 (4) You may again become an *annual payer