Document ID: chunk:federal_register_of_legislation:C2010C00715:clause:1_3
Version: federal_register_of_legislation:C2010C00715
Segment Type: clause
Provision Reference: sch 1 cl 3
Character Range: 183018–185097

3                                          more than $300,000                    20% of the assessed tax   10

Note: The amount of each quarterly payment is the deferred amount divided by the number of payments.

 (4) If only some of the final instalment can be deferred, the rest is still due on the day on which the whole of the instalment would otherwise be due. Section 221AZMAA (which applies the general interest charge to unpaid amounts) applies as if the rest of the final instalment were the whole of the final instalment.

When the quarterly payments are due

 (5) The first of the quarterly payments is due:
 (a) if (disregarding anything the Commissioner does under section 206) the final instalment would otherwise be due on the 1st day of month 18 for the 1999‑2000 year of income—on the 21st day of month 19 for that year; and
 (b) if (disregarding anything the Commissioner does under section 206) the final instalment would otherwise be due on the 1st or 15th day of month 21 for the 1999‑2000 year of income—on the 21st day of month 22 for that year.

Note: The due date for the first quarterly payment is the same as for the taxpayer's next quarterly instalment for the 2000‑01 year of income under Division 45 in Schedule 1 to the Taxation Administration Act 1953. If the taxpayer's year of income ends on 30 June 2000, the due date will be 21 January or 21 April 2001.

 (6) Each of the remaining quarterly payments is due 3 months after the day on which the previous quarterly payment is due (or would be due apart from anything the Commissioner does under section 206).

 (7) A quarterly payment is due on a particular day even if no quarterly instalment of the taxpayer is due on that day under Division 45 in Schedule 1 to the Taxation Administration Act 1953.

Note: If some or all of a quarterly payment is not paid on time, the taxpayer is liable to pay the general interest charge on the unpaid amount: see section 221AZMAA.

 (8) Quarterly payments are to be treated as tax for the purposes of sections 206, 208, 209, 214, 254, 255, 258 and 259.