Document ID: chunk:federal_register_of_legislation:C2022C00299:clause:1_84
Version: federal_register_of_legislation:C2022C00299
Segment Type: clause
Provision Reference: sch 1 cl 84
Character Range: 33068–34926

84  After subsection 124PJ(1)
Insert:
 (1A) If an instalment of a restrictable payment is payable to a person who is a program participant under section 124PGD:
 (a) the percentage of the gross amount of the payment that is restricted (the restricted portion) is:
 (i) if the notice referred to in paragraph 124PGD(1)(c) specifies a percentage for the purposes of this subparagraph—that percentage; or
 (ii) otherwise—50%; and
 (b) the percentage of the gross amount of the payment that is unrestricted (the unrestricted portion) is:
 (i) if subparagraph (a)(i) applies—a percentage that is equal to 100% minus the percentage applicable under that subparagraph; or
 (ii) otherwise—50%.
Note: The percentages may be varied under subsection (3).
 (1B) If an instalment of a restrictable payment is payable to a person who is a program participant under subsection 124PGE(1):
 (a) 50% of the gross amount of the payment is restricted (the restricted portion); and
 (b) 50% of the gross amount of the payment is unrestricted (the unrestricted portion).
Note: The percentages may be varied under subsection (2A) or (3).
 (1C) If an instalment of a restrictable payment is payable to a person who is a program participant under subsection 124PGE(2):
 (a) 70% of the gross amount of the payment is restricted (the restricted portion); and
 (b) 30% of the gross amount of the payment is unrestricted (the unrestricted portion).
Note: The percentages may be varied under subsection (2B) or (3).
 (1D) If an instalment of a restrictable payment is payable to a person who is a program participant under subsection 124PGE(3):
 (a) 50% of the gross amount of the payment is restricted (the restricted portion); and
 (b) 50% of the gross amount of the payment is unrestricted (the unrestricted portion).
Note: The percentages may be varied under subsection (2B) or (3).