Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 3 - Collection, recovery and administration of other taxes  

PART 3-15 - MAJOR BANK LEVY  

Division 115 - General provisions relating to the major bank levy  

SECTION 115-10   WHEN MAJOR BANK LEVY IS DUE AND PAYABLE  

115-10(1)  
An amount of levy under the Major Bank Levy Act 2017 that an *ADI is liable to pay for a *quarter is due and payable on the first day:


(a) that occurs on or after the *MBL reporting day for the quarter; and


(b) on which the last instalment that the ADI is liable to pay within an *instalment quarter is due under Subdivision 45-B .

115-10(2)  
If that amount remains unpaid after it is due and payable, the *ADI is liable to pay *general interest charge on the unpaid amount for each day in the period that:


(a) started at the beginning of the day by which the amount was due to be paid; and


(b) finishes at the end of the last day at the end of which either of the following remains unpaid:


(i) the amount;

(ii) general interest charge on any of the amount.



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