Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-90 - CONSOLIDATED GROUPS  

Division 721 - Liability for payment of tax where head company fails to pay on time  

Joint and several liability of contributing member  

SECTION 721-17   Notice of joint and several liability for general interest charge  

721-17(1)  
This section operates if:


(a) the group liability is * general interest charge for a day in relation to another liability (the primary liability ); and


(b) the Commissioner gives a particular contributing member written notice under subsection 721-15(5) of the group liability; and


(c) general interest charge arises for a subsequent day in relation to the primary liability; and


(d) the general interest charge for the subsequent day has not been paid or otherwise discharged in full by the time it became due and payable.

721-17(2)  
The Commissioner is taken to have given the contributing member written notice under subsection 721-15(5) of the * general interest charge for the subsequent day. The notice is taken to have been given on that day.


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