Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_2:p2
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 2 (pt 2/18)
Character Range: 785330–787963

amount.

Modifications for subsidiary member of consolidated group
 (7) Subsections (1) to (6) apply to you with the modifications set out in subsections (8) to (10) if the variation quarter is in a *consolidation transitional year for you as a *subsidiary member of a *consolidated group.
 (8) For the purposes of subsection (7), a reference in subsection (1), (3), (3A), (3B), (3C) and (3D) to your *benchmark tax for that year is taken to be a reference to the amount worked out as follows:
 (9) For the purposes of subsection (7), a reference in this section to:
 (a) the acceptable amount of your instalment for an *instalment quarter in an income year; or
 (b) the acceptable amount of your instalment for the earlier instalment quarter in an income year; or
 (c) the acceptable amounts of your instalments for the earlier instalment quarters in an income year;
is taken to be a reference to so much of the acceptable amount of instalment or acceptable amounts of instalments, worked out under subsection (3), (3A), (3B), (3C) or (3D) for that quarter or those quarters (as appropriate), as is reasonably attributable to the period in that quarter or those quarters (as appropriate) during which you are not a *subsidiary member of the group.
 (10) For the purposes of subsection (7), a reference to the actual amount in subsection (2) is taken to be a reference to so much of the actual amount worked out under that subsection as is reasonably attributable to the period in the variation quarter during which you are not a *subsidiary member of the group.

45‑233  Reduction in GIC liability under section 45‑232 if shortfall is made up in later instalment
 (1) This section reduces the amount (the shortfall) on which you are liable to pay the *general interest charge under subsection 45‑232(2) if, for a later *instalment quarter (the later quarter) that is in the same income year as the variation quarter, the amount worked out as follows is a negative amount:
That amount (expressed as a positive number) is called the top up.
 (2) For the purposes of the formula in subsection (1):
actual amount of your instalment for the later quarter means:
 (a) the amount of your instalment for the later quarter, as worked out under section 45‑112; or
 (b) if you claimed a credit under section 45‑420 for the later quarter—the amount of the credit, expressed as a negative amount.

Amount of the reduction
 (3) The shortfall is reduced by applying so much of the top up as does not exceed the shortfall.
 (4) However, if some of the top up has already been applied (under any other application or applications of this section) to