Document ID: chunk:federal_register_of_legislation:C2004C01086:clause:10_2
Version: federal_register_of_legislation:C2004C01086
Segment Type: clause
Provision Reference: sch 10 cl 2
Character Range: 246356–247587

2                                   the second in that income year for which you are liable to pay an instalment  the lower of:
                                                                                                                  (a) the amount that the Commissioner would have notified to you under paragraph 45‑112(1)(a) as the amount of your instalment for that *instalment quarter if the amounts of all your instalments for that income year had been required to be worked out under Subdivision 45‑L; and
                                                                                                                  (b) the amount worked out by subtracting:
                                                                                                                  • the *acceptable amount of your instalment for the earlier instalment quarter in that income year;
                                                                                                                   from:
                                                                                                                  • 50% of your *benchmark tax for the income year (which the Commissioner works out under section 45‑365).