Document ID: chunk:federal_register_of_legislation:C2015C00338:clause:1_8:p2
Version: federal_register_of_legislation:C2015C00338
Segment Type: clause
Provision Reference: sch 1 cl 8 (pt 2/3)
Character Range: 12322–14846

are the instalment quarters:
 (a) your first instalment quarter consists of the first 3 months of the MRRT year;
 (b) your second instalment quarter consists of the fourth, fifth and sixth months of the MRRT year;
 (c) your third instalment quarter consists of the seventh, eighth and ninth months of the MRRT year;
 (d) your fourth instalment quarter consists of the tenth, 11th and 12th months of the MRRT year.
Note: There is a special rule for MRRT years that are not 12 months: see Subdivision 115‑H.

115‑15  Information to be given to the Commissioner
 (1) If you are liable to pay an instalment for an *instalment quarter (even if it is a nil amount), you must notify the Commissioner of the amount of your *instalment income for the quarter.
 (2) You must notify the Commissioner in the *approved form and on or before the day when the instalment is due (regardless of whether it is paid).
 (3) Subsection (1) does not apply to you for an *instalment quarter if:
 (a) a nil rate determination under subsection 115‑45(2) or (3) applies to you for the quarter; and
 (b) you are exempted from compliance with subsection (1) for the quarter:
 (i) by a written notice the Commissioner gives you; or
 (ii) by a legislative instrument that the Commissioner makes, exempting a class of entities.
 (4) An exemption under subsection (3) may be combined in the same document as a nil rate determination.

115‑20  Credit for instalments payable
 (1) You are entitled to a credit when the Commissioner makes an assessment of the amount (including a nil amount) of *MRRT you are liable to pay.
 (2) The amount of the credit is:
 (a) the total of each instalment payable by you for the *MRRT year (even if you have not yet paid it); less
 (b) the total of each credit that you have claimed under section 115‑60 or 115‑100.
 (3) The making of the assessment, and the resulting credit entitlement, do not affect the liability to pay an instalment.
Note: How the credit is applied is set out in Division 3 of Part IIB.

115‑25  When instalments are due
  An instalment you are liable to pay in relation to an *instalment quarter is due on or before the 21st day of the month after the end of that quarter.

115‑30  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