Document ID: chunk:federal_register_of_legislation:C2004C01268:clause:2_18
Version: federal_register_of_legislation:C2004C01268
Segment Type: clause
Provision Reference: sch 2 cl 18
Character Range: 67971–68470

18  Subsection 45‑155(1) in Schedule 1
Repeal the subsection, substitute:

 (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.