INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
(a) notified on the notice of assessment of the income tax payable by that taxpayer in respect of the income of the year next preceding that year of income, and in that case shall be due and payable on the date specified in that notice as the date on which tax is due and payable; or
(b) specified in a notice served by the Commissioner on the taxpayer, and in that case shall be due and payable on the date specified in the notice, not being less than 30 days after the service of the notice.
The amount that, but for subsection 221YBA(5) , would be the provisional tax payable by a taxpayer in respect of a year of income may be:
(a) notified on the notice of assessment of the income tax payable by the taxpayer in respect of the income of the year next preceding that year of income; or
(b) specified in a notice served by the Commissioner on the taxpayer.
Where, under subsection (1), the due date for payment of provisional tax in respect of income of a year of income would be a date before 31 March in that year, that provisional tax shall be due and payable on that last-mentioned date.
An instalment of provisional tax is due and payable on the date specified in the instalment notice as the date on which the instalment is due and payable.
If any of the provisional tax, or the instalment of provisional tax, which a taxpayer is liable to pay remains unpaid after the time by which it is due to be paid, the taxpayer 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 provisional tax or the instalment 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 provisional tax or the instalment;
(ii) general interest charge on any of the provisional tax or the instalment.
Subsection 8AAB(4) of that Act lists the provisions that apply the charge.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.