Document ID: chunk:federal_register_of_legislation:C2025C00180:schedule:1:p3
Version: federal_register_of_legislation:C2025C00180
Segment Type: schedule
Provision Reference: sch 1 (pt 3/27)
Character Range: 712852–715395

year.
 (3) The total of your instalments for an income year is as close as possible to the total of your liabilities for the income year that are covered by subsection (1), except so far as the amounts of those liabilities are attributable to a *net capital gain. (The exception does not apply to the entities listed in subsections 45‑120(2) and (2A) or the net capital gains specified in subsection 45‑120(2B).)
 (4) Consequently, the additional amounts you have to pay to discharge those liabilities, after an assessment of your income tax for the income year is made, are as low as possible.
 (5) If you are a *quarterly payer who pays on the basis of instalment income, the amount of each of your instalments for an income year is the same proportion (as nearly as possible, subject to the principles in subsections (3) and (4)) of the total of those instalments as your *instalment income for that *instalment quarter is of your total instalment income for the income year.
 (5A) If you are a *monthly payer, the amount of each of your instalments for an income year is the same proportion (as nearly as possible, subject to the principles in subsections (3) and (4)) of the total of those instalments as your *instalment income for that *instalment month is of your total instalment income for the income year.
 (6) When instalments are payable, and how their amount is calculated, are the same for different kinds of entities, except as expressly provided.
Note: Subdivision 45‑P penalises an entity whose tax position, so far as it relates to PAYG instalments and related matters, is altered by a scheme that is inconsistent with the object of this Part.

45‑10  Application of Part
  This Part applies to individuals, companies, and the entities listed in items 4 to 10, and 12 and 13, of the table in section 9‑1 of the Income Tax Assessment Act 1997 (which lists the entities that must pay income tax).
Note 1: Section 45‑450 provides for how this Part applies to a trustee covered by any of items 4 to 8, and 12 and 13, of the table in section 9‑1 of the Income Tax Assessment Act 1997. In most respects, the trust is treated like a company.
Note 2: This Part also applies to a trustee covered by item 11 of the table in section 9‑1 of the Income Tax Assessment Act 1997, but only to the extent set out in section 45‑455, and the rest of Subdivision 45‑N, in this Schedule.

45‑15  Liability for instalments
 (1) The Commissioner may give you an instalment rate from time to time, by giving you written notice of the rate.
 (2) You