Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 840 - Withholding taxes  

Subdivision 840-M - Managed investment trust withholding tax  

Operative provisions

SECTION 840-810   When managed investment trust withholding tax is payable  

840-810(1)  
* Managed investment trust withholding tax is due and payable by you at the end of 21 days after:


(a) if subsection 840-805(2) or (3) applies to you - the end of the month in which the fund payment part is paid, applied or dealt with; or


(b) if subsection 840-805(4) applies to you - the end of the month in which the entitlement time occurs.

840-810(2)  
If any of the * managed investment trust withholding tax that you are liable to pay remains unpaid after the time by which it is due to be paid, you are liable to pay the * general interest charge on the unpaid amount for each day in the period that:


(a) starts at the beginning of the day by which the withholding tax was due to be paid; and


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


(i) the withholding tax;

(ii) general interest charge on any of the withholding tax.
Note:

The general interest charge is worked out under Part IIA of the Taxation Administration Act 1953 .

840-810(3)  
The Commissioner may give you a notice specifying:


(a) the amount of any * managed investment trust withholding tax that the Commissioner has ascertained is payable by you; and


(b) the day on which that tax became due and payable.

840-810(4)  
The ascertainment of an amount of * managed investment trust withholding tax is not an assessment for the purposes of this Act.

840-810(5)  
The production of a notice given under subsection (3) , or of a copy of it certified by or on behalf of the Commissioner, is conclusive evidence that the notice was given and of the particulars in it.


View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.