Document ID: chunk:federal_register_of_legislation:F2024L01686:reg:7
Version: federal_register_of_legislation:F2024L01686
Segment Type: reg
Provision Reference: reg 7
Character Range: 3038–4370

7  Penalty in relation to unpaid tax
 (1) For subsections 7A(1) and (1A) of the Act, this section determines the penalty payable by:
 (a) the holder of an instrument in relation to apparatus licence tax that remains unpaid after the due day; and
 (b) the licensee for a spectrum licence in relation to spectrum licence tax that remains unpaid after the due day.
 (2) For each day that tax remains unpaid after the due day, the penalty is:
 (a) the general interest charge rate; multiplied by
 (b) the amount of tax that remained unpaid at the start of the day; divided by
 (c) the number of days in the year in which the day falls.
Example: A person fails to pay apparatus licence tax of $365,000 for 10 days after the due day, at a time when the general interest charge rate is 12 percent. Each of those 10 days occurs during a year that is not a leap year. For each of those 10 days, the penalty is:
12% x $365,000 ÷ 365 = $120
 If, after those 10 days, the person pays the tax, no further penalty is payable. All the penalty payable by the person in relation to the unpaid tax is:
10 days x $120 per day = $1,200.
 (3) Penalty determined by this section:
 (a) is payable to the ACMA on behalf of the Commonwealth; and
 (b) may be recovered as a debt due to the Commonwealth.
 (4) Subsection (2) is subject to sections 10 to 13.