Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_4:p18
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 18/22)
Character Range: 907244–909954

step 3. The result of this step is the amount on which the *general interest charge is payable if it is a positive amount. No general interest charge is payable if the result of this step is nil or a negative amount.

Amounts of instalments or credits that are taken into account
 (3) In working out an amount of instalment or credit for a *subsidiary member of the group for the purposes of any of the following provisions:
 (a) paragraph (1)(b);
 (b) step 2 or 3 of the method statement;
take into account only an amount of instalment or credit covered by that provision that is reasonably attributable to a period in that *consolidation transitional year of the *head company during which it is a subsidiary member of the group.

Members having different instalment quarters
 (4) In working out an amount of instalment or credit for a *subsidiary member whose *instalment quarters differ from those of the *head company for the purposes of any of the following provisions:
 (a) paragraph (1)(a) or (b);
 (b) step 2 or 3 of the method statement;
a reference to an instalment quarter in a *consolidation transitional year of the head company in any of those provisions includes a reference to the last instalment quarter of that subsidiary member ending before the end of that instalment quarter of the head company.
 (5) Subsections (6) and (7) apply if:
 (a) the *head company of the *consolidated group is a *monthly payer at a time in an *instalment month (the current month); and
 (b) any of the other *members of the group (the subsidiary quarterly payers) are *quarterly payers at a time in the *instalment quarter (the current quarter) in which the current month starts.
 (6) Apply the following rules:
 (a) treat the reference in subsection (1) to an *instalment quarter as being a reference to the current month;
 (b) treat the references in this section to that quarter (or that instalment quarter) as being references to the current month.
 (7) Also apply the following rules, for the purposes of subsections (1) to (5):
 (a) treat the subsidiary quarterly payers as *monthly payers for each *instalment month (a notional instalment month) that starts (disregarding paragraph (6)(a)) in the current quarter;
 (b) apply this section separately in relation to each of those notional instalment months;
 (c) treat the amount of instalment or credit for a subsidiary quarterly payer in respect of a notional instalment month as being the extent to which the amount of instalment or credit for the subsidiary quarterly payer for the current quarter is attributable to that notional instalment month.

45‑875  Other rules about the general interest charge
 (1) The *general interest charge under section