Document ID: chunk:federal_register_of_legislation:C2025C00180:schedule:1:p14
Version: federal_register_of_legislation:C2025C00180
Segment Type: schedule
Provision Reference: sch 1 (pt 14/27)
Character Range: 739059–741734

period, because you cease to *hold a *registered emissions unit during that period.

Instalment income of entity that is not liable for instalments
 (6) An entity can have *instalment income for a period even if the entity is not liable to pay an instalment for that period.
Note: For example, although a partnership does not pay instalments, it is necessary to work out the partnership's instalment income in order to work out instalments payable by the partners. See Subdivision 45‑H.

Subdivision 45‑D—Quarterly payers

Table of sections
45‑125 Quarterly payer who pays instalments on the basis of instalment income
45‑130 Quarterly payer who pays on the basis of GDP‑adjusted notional tax
45‑132 Quarterly payer who pays 4 instalments annually on the basis of GDP‑adjusted notional tax
45‑134 Quarterly payer who pays 2 instalments annually on the basis of GDP‑adjusted notional tax

45‑125  Quarterly payer who pays instalments on the basis of instalment income
 (1) You are a quarterly payer who pays on the basis of instalment income if:
 (a) at the end of the *starting instalment quarter in an income year, you are not a *quarterly payer who pays on the basis of GDP‑adjusted notional tax and you are not a *monthly payer or an *annual payer; or
 (b) but for this section, you would be a quarterly payer who pays on the basis of GDP‑adjusted notional tax at the end of the starting instalment quarter in an income year but you choose to pay quarterly instalments on the basis of your instalment income.
Note: The entity must make the choice mentioned in paragraph (b) in accordance with subsection (4).
 (2) The starting instalment quarter in an income year (the current year) is:
 (a) if the Commissioner gives you an instalment rate for the first time during an *instalment quarter in the current year—that instalment quarter (even if it is not the first instalment quarter in the current year); or
 (b) if the Commissioner has given you an instalment rate during a previous income year and your instalment rate has not been withdrawn—the first instalment quarter in the current year.

How and when you become such a payer
 (3) You become a *quarterly payer who pays on the basis of instalment income just before the end of the *starting instalment quarter if paragraph (1)(a) or (b) is satisfied.
 (4) You must make the choice mentioned in paragraph (1)(b) by notifying the Commissioner in the *approved form on or before the day on which the instalment for that quarter is due (disregarding subsection 45‑112(3)).

How and when you stop being such a payer
 (5) If you are a *quarterly payer who pays on the basis of instalment income because of paragraph (1)(a),