Document ID: chunk:federal_register_of_legislation:C2004C01086:clause:12_21:p2
Version: federal_register_of_legislation:C2004C01086
Segment Type: clause
Provision Reference: sch 12 cl 21 (pt 2/2)
Character Range: 300004–301933

of Division
298‑10 Notification of liability
298‑15 Due date for penalty
298‑20 Remission of penalty
298‑25 General interest charge on unpaid penalty

298‑5  Scope of Division

  This Division applies if a taxation law imposes on an entity a civil penalty expressed in penalty units.

298‑10  Notification of liability

  The Commissioner must give written notice to the entity of the entity's liability to pay the penalty. The notice may be included in any other notice the Commissioner gives to the entity.

298‑15  Due date for penalty

  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 entity.

298‑20  Remission of penalty

 (1) The Commissioner may remit all or a part of the penalty.

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

 (3) If:
 (a) the Commissioner refuses to any extent to remit an amount of penalty; and
 (b) the amount of penalty payable after the refusal is more than 2 penalty units; and

Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty unit.
 (c) the entity is dissatisfied with the decision;
the entity may object against the decision in the manner set out in Part IVC.

298‑25  General interest charge on unpaid penalty

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

Note: The general interest charge is worked out under Division 1 of Part IIA.