Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 162.100

General interest charge on late payment

                   If you fail to pay some or all of a * GST instalment by the time by which the GST instalment is due to be paid, you are 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 GST 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 GST instalment;

                             (ii)  general interest charge on any of the instalment.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback