Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_4
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 4
Character Range: 826374–828385

4                                                                                the fourth in that income year for which you are liable to pay an instalment  100% of your *GDP‑adjusted notional tax, reduced by the total of your instalments for earlier *instalment quarters in that income year

Note: Your instalments for earlier instalment quarters may have been worked out on a basis other than GDP‑adjusted notional tax.

Amount reduced in circumstances specified by regulations
 (3) In the circumstances (if any) specified by the regulations, the amount worked out in accordance with the table in subsection (2) is reduced by the amount worked out under the regulations.
 (4) Without limiting subsection (3), the regulations may specify circumstances by:
 (a) specifying the particular *instalment quarter to which the reduction applies; or
 (b) specifying the kind of payers to whom the reduction applies.
 (5) In working out, under subsection (2), the amount of your instalment for an *instalment quarter in an income year, assume that there had not been any reductions under subsection (3) for earlier instalment quarters in that year.

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 (the current 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: