Document ID: chunk:federal_register_of_legislation:C2004C01268:clause:2_29
Version: federal_register_of_legislation:C2004C01268
Segment Type: clause
Provision Reference: sch 2 cl 29
Character Range: 70944–71845

29  After section 45‑400 in Schedule 1
Insert:

45‑402  Working out amount of instalment—payers of 2 quarterly instalments

 (1) This section applies if you are a *quarterly payer who pays 2 instalments annually on the basis of GDP‑adjusted notional tax at the end of an *instalment quarter in an income year.

 (2) If you are liable to pay an instalment for that *instalment quarter, the amount of that instalment which the Commissioner must work out and notify to you under paragraph 45‑112(1)(a) is:
 (a) the amount worked out in accordance with this section if it is positive; or
 (b) otherwise—nil.

Amount of instalment

 (3) Subject to subsections (4) to (6), the amount of that instalment is worked out in accordance with the following table:

Amount of quarterly instalment
Item                            If the *instalment quarter is:                     the amount of the instalment is: