Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 162.130

  (1)   If you are a * GST instalment payer, your * GST instalments for the * GST instalment quarters of an * instalment tax period applying to you are worked out under subsections   (2) and (3).

  (2)   Your * GST instalment for the first * GST instalment quarter is whichever of the following you choose:

  (a)   your * notified instalment amount for the GST instalment quarter; or

  (b)   your * varied instalment amount for the GST instalment quarter.

  (3)   Your * GST instalment for any other * GST instalment quarter is:

  (a)   if you have a * notified instalment amount for the GST instalment quarter--whichever of the following you choose:

  (i)   your notified instalment amount for the GST instalment quarter; or

  (ii)   your * varied instalment amount for the GST instalment quarter; or

  (b)   if you do not have a notified instalment amount for the GST instalment quarter--whichever of the following you choose:

  (i)   25% of your * estimated annual GST amount relating to the preceding GST instalment quarter; or

  (ii)   your varied instalment amount for the GST instalment quarter.

Note:   Subsection   162 - 135(2) sets out when you will not have a notified instalment amount for a GST instalment quarter.