Document ID: chunk:federal_register_of_legislation:C2004C01268:clause:2_50
Version: federal_register_of_legislation:C2004C01268
Segment Type: clause
Provision Reference: sch 2 cl 50
Character Range: 83325–83963

50  Transitional—some existing PAYG payers for 2000‑2001 income year

(1) This item applies to an entity that:
 (a) is a *quarterly payer who pays on the basis of GDP‑adjusted notional tax (within the meaning of section 45‑125 of Schedule 1 to the Taxation Administration Act 1953) at the end of a transitional quarter (within the meaning of item 49 of this Schedule); and
 (b) is not an entity that has chosen to become such a payer under item 49 of this Schedule.

(2) Section 45‑130 in Schedule 1 to the Taxation Administration Act 1953 does not apply to that entity for that transitional quarter and all later transitional quarters.