TAXATION ADMINISTRATION ACT 1953

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

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

PART 2-5 - PAY AS YOU GO (PAYG) WITHHOLDING  

Division 18 - Recipient ' s entitlements and obligations  

Subdivision 18-D - Directors etc. of non-complying companies  

PAYG withholding non-compliance tax

SECTION 18-150   18-150   GENERAL INTEREST CHARGE PAYABLE ON UNPAID PAYG WITHHOLDING NON-COMPLIANCE TAX  


If an amount of * PAYG withholding non-compliance tax that an individual must pay to the Commissioner remains unpaid after the time by which it is due to be paid, the individual is liable to pay * general interest charge on the unpaid amount of tax for each day in the period that:


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


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


(i) the unpaid amount of tax;

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



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