Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:24_2
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 24 cl 2
Character Range: 302512–303283

2  After section 45‑155 in Schedule 1
Insert:

45‑160  Head company of a consolidated group stops being annual payer

 (1) You stop being an *annual payer at the start of an *instalment quarter if Subdivision 45‑Q starts applying to you as the *head company of a *consolidated group during that quarter.

 (2) You must pay an instalment for that *instalment quarter and later instalment quarters in accordance with Subdivision 45‑B.

 (3) You may again become an *annual payer if:
 (a) you again satisfy the conditions in section 45‑140; and
 (b) you again choose under that section to pay instalments annually.

Note: You cannot choose to be an annual payer while you are the head company of a consolidated group to which Subdivision 45‑Q applies: see section 45‑720.