Document ID: chunk:federal_register_of_legislation:C2004C01268:clause:2_14:p2
Version: federal_register_of_legislation:C2004C01268
Segment Type: clause
Provision Reference: sch 2 cl 14 (pt 2/4)
Character Range: 61447–63970

on the basis of instalment income because of paragraph (1)(b), you stop being such a payer at the start of the first *instalment quarter in the next income year if:
 (a) you become an *annual payer at the end of that quarter; or
 (b) both of the following conditions apply:
 (i) you choose not to be a quarterly payer who pays on the basis of instalment income;
 (ii) you become a *quarterly payer who pays on the basis of GDP‑adjusted notional tax at the end of that quarter.

 (7) You may only make the choice mentioned in paragraph (6)(b) if you would otherwise satisfy paragraph 45‑130(1)(a), (b) or (c) at the end of that quarter. You must make that choice 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)).

45‑130  Quarterly payer who pays on the basis of GDP‑adjusted notional tax

 (1) You are a quarterly payer who pays on the basis of GDP‑adjusted notional tax if, at the end of the *starting instalment quarter in an income year:
 (a) you are an individual who is not an *annual payer or a *quarterly payer who pays on the basis of instalment income; or
 (b) you are a *full self‑assessment taxpayer:
 (i) that is not an *annual payer or a *quarterly payer who pays on the basis of instalment income; and
 (ii) your base assessment instalment income (within the meaning of section 45‑320) for the *base year is $1 million or less; or
 (c) you satisfy all of the following conditions:
 (i) you are a *full self‑assessment taxpayer whose base assessment instalment income (within the meaning of section 45‑320) for the *base year is more than $1 million;
 (ii) you are not an annual payer, but you satisfy the conditions set out in subsection 45‑140(1) for an annual payer;
 (iii) you are not a quarterly payer who pays on the basis of instalment income.

Note: Paragraph (a) may apply to you if you are a multi‑rate trustee. See section 45‑468.

How and when you become such a payer

 (2) You become such a payer just before the end of the *starting instalment quarter if paragraph (1)(a), (b) or (c) is satisfied.

How and when you stop being such a payer

 (3) You stop being a *quarterly payer who pays on the basis of GDP‑adjusted notional tax at the start of the first *instalment quarter in the next income year if you fail to satisfy paragraph (1)(a), (b) or (c) at the end of that quarter.

 (4) In addition, you stop being such a payer at the start of the first *instalment quarter in the next