Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT 1984No. 123, 1984 - SECT 122

122. Section 221AE of the Principal Act is amended by inserting after
sub-section (1) the following sub-sections:

"(1A) Where the amount that would, but for this sub-section, be payable by a
company as an instalment of tax in respect of its income of a year of income
is less than-

   (a)  $250; or

   (b)  if the Commissioner has determined another amount under sub-section
        (1B) in relation to the year of income, that other amount, then,
        unless the Commissioner otherwise determines in relation to the
        company or a specified class of companies in which the company is
        included, the instalment is not payable.

"(1B) For the purposes of this section, the Commissioner may, by notice
published in the Gazette, determine an amount other than $250 as the minimum
amount in relation to instalments of tax payable by companies in respect of
income of a specified year of income and each subsequent year of income.".