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FRINGE BENEFITS TAX ASSESSMENT ACT 1986 - SECT 109

Interpretation

    In this Subdivision:

"employer's estimate" , in relation to an employer, in relation to an instalment of tax in relation to a year of tax, means the amount shown in a statement by the employer under subsection   112(1) in relation to the instalment as the employer's estimate of the tax that will be payable by the employer in respect of the year of tax.

"estimated tax" , in relation to an employer in relation to a year of tax, means the amount determined, or last determined, as the case requires, under subsection   112(2) or (3) as the estimated tax of the employer in respect of the year of tax.

"GIC period" , in relation to an instalment in relation to a year of tax, has the meaning given by the following table:

 

GIC period

Item

For this instalment in that year of tax:

GIC period is this period if this instalment is due and payable under subsection   103(1):

GIC period is this period if this instalment is due and payable under subsection   103(2):

1

first instalment

the period starting at the beginning of 21   July, and finishing at the end of 20   October, in the year of tax

the period starting at the beginning of 28   July, and finishing at the end of 27   October, in the year of tax

2

second instalment

the period starting at the beginning of 21   October, and finishing at the end of 20   January, in the year of tax

the period starting at the beginning of 28   October, and finishing at the end of 27   February, in the year of tax

3

third instalment

the period starting at the beginning of 21   January in the year of tax and finishing at the end of 20   April in the next year of tax

the period starting at the beginning of 28   February in the year of tax and finishing at the end of 27   April in the next year of tax

4

fourth instalment

the period starting at the beginning of 21   April, and finishing at the end of 20   May, in the next year of tax

the period starting at the beginning of 28   April, and finishing at the end of 20   May, in the next year of tax

"relevant fraction" , in relation to an instalment, means:

  (a)   0.25 for a first instalment; or

  (b)   0.50 for a second instalment; or

  (c)   0.75 for a third instalment; or

  (d)   1.00 for a fourth instalment.


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