Document ID: chunk:federal_register_of_legislation:C2025C00029:section:3:p47
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 3 (pt 47/54)
Character Range: 1206034–1208709

for a *build to rent development that *ceases to be an *active build to rent development, is the amount worked out as follows:

      Method statement
           Step 1. Identify each income year in which, at any time during the year, the *build to rent development was an *active build to rent development.
           Step 2. For each of those years, identify each *fund payment made by the owner of the *active build to rent development, or each part of such a fund payment, (if any) that is referable to any of the following:

                (a) a payment of rental income under a lease of a *dwelling of the active build to rent development;
                (b) a *capital gain from a *CGT event in relation to a dwelling of the active build to rent development.

                  Note: For the purposes of this step, it does not matter whether an amount must be withheld from a fund payment under Part 2‑5 in Schedule 1 to the Taxation Administration Act 1953.
           Step 3. For each year add up the amounts of payments, or parts of payments, identified under Step 2.
           Step 4. Add up the Step 3 amounts for each year.
           Step 5. Your build to rent withholding amount is the Step 4 amount multiplied by 1.08.

Subdivision 44‑C—When tax is payable

Guide to Subdivision 44‑C

44‑35  What this Subdivision is about
      This Subdivision has rules about payment of build to rent development misuse tax.

Table of sections
44‑40 When tax is payable—original assessments
44‑45 When tax is payable—amended assessments
44‑50 General interest charge

44‑40  When tax is payable—original assessments
  Your *assessed build to rent development misuse tax is due and payable at the end of 21 days after the Commissioner gives you notice of the assessment of the amount of the *build to rent development misuse tax.
Note: For assessments of build to rent development misuse tax, see Division 155 in Schedule 1 to the Taxation Administration Act 1953.

44‑45  When tax is payable—amended assessments
  If the Commissioner amends your assessment, any extra *assessed build to rent development misuse tax resulting from the amendment is due and payable 21 days after the day the Commissioner gives you notice of the amended assessment.

44‑50  General interest charge
  If an amount of *assessed build to rent development misuse tax that you are liable to pay remains unpaid after the time by which it 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) begins on the day on which the amount was due to be paid; and
 (b) ends on the last day on which, at the end of the day, any of