Document ID: chunk:federal_register_of_legislation:C2025C00180:schedule:1:p8
Version: federal_register_of_legislation:C2025C00180
Segment Type: schedule
Provision Reference: sch 1 (pt 8/27)
Character Range: 724588–727153

February.
Note: If you are the head company of a consolidated group to which Subdivision 45‑Q applies, the instalment is due on or before the 21st day of that next month: see section 45‑715 (as it has effect because of section 45‑703).

45‑70  When annual instalments are due
 (1) This section applies if you are liable to pay an annual instalment for the 2002‑03 income year or a later income year.
 (2) If the income year ends on 30 June, the instalment is due on or before the next 21 October.
 (3) If the income year ends on a day other than 30 June, the instalment is due on or before the 21st day of the fourth month after the end of the income year.

45‑72  Means of payment of instalment
  You must pay an instalment by *electronic payment, or any other means approved in writing by the Commissioner.

45‑75  Instalments recoverable in same way as income tax
  Instalments are to be treated as income tax for the purposes of sections 254 and 255 of the Income Tax Assessment Act 1936.

45‑80  General interest charge on late payment
  If you fail to pay some or all of an instalment by the time by which the instalment is due to be paid, you are liable to pay the *general interest charge on the unpaid amount for each day in the period that:
 (a) started at the beginning of the day by which the instalment was due to be paid; and
 (b) finishes at the end of the last day on which, at the end of the day, any of the following remains unpaid:
 (i) the instalment;
 (ii) general interest charge on any of the instalment.

45‑90  Commissioner may withdraw instalment rate
 (1) The Commissioner may:
 (a) by giving you written notice, withdraw your instalment rate; or
 (b) by legislative instrument, withdraw the instalment rate of a class of entities that includes you.
Note: If the Commissioner does so, you cease to be liable to pay instalments (even if you have chosen a rate under section 45‑205). See subsection 45‑50(4).
 (2) If the Commissioner withdraws your instalment rate and later gives you another one:
 (a) you are again liable to pay instalments in accordance with section 45‑50; and
 (b) this Division has effect as if the Commissioner has given you an instalment rate for the first time.

Subdivision 45‑C—Working out instalment amounts

Table of sections
45‑110 How to work out amount of quarterly instalment on instalment income basis
45‑112 Amount of instalment for quarterly payer who pays on basis of GDP‑adjusted notional tax
45‑114 How to work out amount of monthly instalment
45‑115 How to work out amount of annual instalment
45‑120