Document ID: chunk:federal_register_of_legislation:C2010C00715:clause:1_4:p2
Version: federal_register_of_legislation:C2010C00715
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 2/21)
Character Range: 63118–65674

a penalty of 5 penalty units.

Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.

Remission

 (2) However, the Commissioner may remit all or a part of the penalty amount.

 (3) If the Commissioner decides:
 (a) to remit only part of a penalty amount; or
 (b) not to remit any part of a penalty amount;
the Commissioner must give written notice of the decision to the entity liable to pay the penalty amount.

Note: A person who is dissatisfied with a decision under this section may object against the decision in the manner set out in Part IVC.

 (4) The Commissioner must give written notice to the *large withholder about its liability under this section. The notice may be included in any other notice the Commissioner gives to the large withholder.

 (5) The penalty becomes due for payment on the day specified in the notice, which must be at least 14 days after the notice is given to the *large withholder.

General interest charge

 (6) If any of the penalty remains unpaid after it is due, the *large withholder is liable to pay the *general interest charge on the unpaid penalty amount for each day in the period that:
 (a) started at the beginning of the day by which the penalty 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 penalty amount;
 (ii) general interest charge on any of the penalty amount.

Exception

 (7) This section does not apply if:
 (a) the *large withholder is an *exempt Australian government agency; or
 (b) the Commissioner has varied under section 16‑85 the means by which the large withholder pays amounts to the Commissioner.

Who is a large, medium or small withholder

16‑95  Meaning of large withholder

 (1) An entity is a large withholder for a particular month (the current month) in a *financial year starting on or after 1 July 2001 if:
 (a) it was a *large withholder for June 2001 because of section 16‑125; or
 (b) the *amounts withheld by the entity during a financial year ending at least 2 months before the current month exceeded $1 million; or
 (c) both of the following apply:
 (i) at the end of a financial year (the threshold year) ending at least 2 months before the current month, the entity was one of a number of companies that were at that time all members of the same *wholly‑owned group;
 (ii) the amounts withheld by those companies during the threshold year exceeded $1 million; or
 (d) the Commissioner determines under section 16‑115 that the entity is a