INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VI - COLLECTION AND RECOVERY OF TAX  

Division 1AAA - Payment of RPS, PAYE and PPS deductions to Commissioner  

Subdivision C - Medium remitters  

SECTION 220AAM   WHEN AMOUNTS MUST BE REMITTED  

220AAM(1)   [7th day after month]  

A person who is a medium remitter in relation to a month must pay to the Commissioner the amount of any deductions that the medium remitter makes under Division 1AA , 2 or 3A in that month by the end of the 21st day after the end of the month.

Note:

Subsection 36(2) of the Acts Interpretation Act 1901 does not apply for the purposes of this subsection.

220AAM(2)    

220AAM(3)   [Liability to general interest charge]  

If any of the amount (the deducted amount ) which a medium remitter must pay to the Commissioner remains unpaid after the time by which it is due to be paid, the medium remitter is liable to pay the 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 deducted amount was due to be paid; and

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

(i) the deducted amount;

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

Note:

The general interest charge is worked out under Division 1 of Part IIA of the Taxation Administration Act 1953 .