Clean Energy Legislation (Carbon Tax Repeal) Act 2014 (83 of 2014)

Schedule 1   Repeal of the carbon tax

Part 4   Jobs and Competitiveness Program

Division 5   Collection of levy

357   Late payment penalty

(1) If an amount of levy payable by a person remains unpaid after the time when it became due for payment, the person is liable to pay, by way of penalty, an amount calculated at the rate of:

(a) 20% per annum; or

(b) if a lower percentage is specified in the rules - that lower percentage per annum;

on the amount unpaid, computed from that time.

Power to remit

(2) The Regulator may remit the whole or a part of an amount payable under subitem (1).

(3) Applications may be made to the Administrative Appeals Tribunal for review of decisions of the Regulator under subitem (2) to refuse to remit the whole or a part of an amount.