Document ID: chunk:federal_register_of_legislation:C2015C00338:clause:1_4:p1
Version: federal_register_of_legislation:C2015C00338
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 1/17)
Character Range: 18534–21429

4                                                              None of items 1, 2 and 3 applies                                                                                                                                            The rate that applies to you under Subdivision 115‑F.

Note: If you choose a rate under Subdivision 115‑D, you must use it for the rest of the MRRT year even if the Commissioner later gives you a different instalment rate.

Nil rate determinations
 (2) The Commissioner may, by giving you written notice, determine a nil rate for you for an *MRRT year if, in the Commissioner's opinion, you are unlikely to be liable to pay *MRRT for the MRRT year.
 (3) The Commissioner may, by legislative instrument, determine a nil rate for a class of entities for an *MRRT year if, in the Commissioner's opinion, each entity in the class is unlikely to be liable to pay *MRRT for the MRRT year.
 (4) A determination applies for the *instalment quarter in which the Commissioner makes it, and for later quarters in the *MRRT year.
Note: The determination does not apply in later MRRT years.
 (5) However, if the Commissioner later gives you an instalment rate under Subdivision 115‑E, the determination stops applying to you for the instalment quarter in which you are given that later rate, and for later quarters.
Note 1: This may mean the nil rate determination does not apply to you for any instalment quarter (if the Commissioner makes the determination, then later in the same quarter gives you an instalment rate under Subdivision 115‑E).
Note 2: For whether the rate the Commissioner gives you under Subdivision 115‑E is your applicable instalment rate for an instalment quarter, see the table in subsection (1).

Subdivision 115‑D—Instalment rate chosen by you

Table of sections

Choosing an instalment rate
115‑50 Choosing a varied instalment rate
115‑55 Notifying Commissioner of varied instalment rate

Variation credits
115‑60 Credit on using varied rate in certain cases

General interest charge payable in certain cases if instalments are too low
115‑65 Liability to GIC on shortfall in instalments worked out on the basis of varied rate
115‑70 Working out your benchmark instalment rate

Choosing an instalment rate

115‑50  Choosing a varied instalment rate
  You may choose an instalment rate for an *instalment quarter in an *MRRT year under this Subdivision.
Note 1: If choosing a rate leads you to pay an instalment that is too low, you may be liable to general interest charge under section 115‑65.
Note 2: You would also use this rate for later instalment quarters in the MRRT year, unless you choose another rate for the later instalment quarter under this section (see section 115‑45).
Note 3: Division 119 is about choices under the MRRT law.

115‑55  Notifying Commissioner of varied instalment rate
 (1) If you choose an instalment rate for an