Taxation Administration Act 1953

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

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History

Sch 1 inserted by No 178 of 1999 (as amended by No 179 of 1999 and No 44 of 2000).

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

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History

Ch 2 title inserted by No 73 of 2006 , s 3 and Sch 5 item 40, effective 1 July 2006.

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

Division 16 - Payer ' s obligations and rights  

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Subdivision 16-B - To pay withheld amounts to the Commissioner  

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When and how to pay amounts to the Commissioner

SECTION 16-80  

16-80   PENALTY FOR FAILURE TO PAY WITHIN TIME  

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If an amount that an entity must pay to the Commissioner under subsection 16-70(1) or (3) remains unpaid after the time by which it is due to be paid, the entity 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 unpaid amount 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;

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

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History

S 16-80 amended by No 10 of 2016, s 3 and Sch 2 item 18, by substituting " 16-70(1) or (3) " for " 16-70(1), (3) or (4) " , effective 26 February 2016. For application provision, see note under Subdiv 14-D heading.

S 16-80 amended by No 133 of 2009, s 3 and Sch 1 item 4, by substituting " , (3) or (4) " for " or (3) " , applicable in relation to the ESS interests mentioned in subsections 83A-5(1) and 83A-5(2) of the Income Tax (Transitional Provisions) Act 1997 .

S 16-80 amended by No 101 of 2006 , s 3 and Sch 2 item 957, by inserting " or (3) " , effective 14 September 2006. For application and saving provisions see the CCH Australian Income Tax Legislation archive .

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