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 B - Large remitters  

SECTION 220AAE   WHEN AMOUNTS MUST BE REMITTED  

220AAE(1)   [Table of payments]  

A person who is a large remitter in relation to a month must pay to the Commissioner the amount of any deductions that the person makes under Division 1AA , 2 or 3A during that month as set out in the following table:


Table of payments by large remitters
Item Day on which amount deducted Payment day
1 Saturday or Sunday The second Monday after that day
.
2 Monday or Tuesday The first Monday after that day
.
3 Wednesday The second Thursday after that day
.
4 Thursday or Friday The first Thursday after that day

Note:

The payments covered by items 1 and 2 would normally be paid together, as would the payments covered by items 3 and 4.

220AAE(2)  

220AAE(3)   [Payment of general interest charge]  

If any of the amount (the deducted amount ) which a large remitter must pay to the Commissioner remains unpaid after the time by which it is due to be paid, the large 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 .


 

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