Document ID: chunk:federal_register_of_legislation:C2010C00715:clause:1_1:p20
Version: federal_register_of_legislation:C2010C00715
Segment Type: clause
Provision Reference: sch 1 cl 1 (pt 20/21)
Character Range: 56900–59557

interest or royalty payment); or
 (b) fails to pay to the Commissioner an amount as required by Division 14 in respect of a withholding payment covered by that Subdivision;
is liable to pay to the Commissioner a penalty (the penalty amount) equal to that amount.

 (2) The penalty amount is due at the time when the entity would have had to pay to the Commissioner the *amount required to be withheld.

Note: An entity may become liable under this section in respect of a payment it made or received that is taken to have been subject to withholding tax as a result of a Commissioner's determination under subsection 177F(2A) of the Income Tax Assessment Act 1936 (see also subsection 177F(2F) of that Act).

16‑45  Remission of penalty under section 16‑30, 16‑35 or 16‑40

 (1) The Commissioner may remit all or a part of a penalty under section 16‑30, 16‑35 or 16‑40.

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

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.

16‑50  General interest charge on unpaid penalty

  If a penalty under section 16‑30, 16‑35 or 16‑40 remains unpaid after it is due, the entity liable to pay the penalty amount is liable to pay *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 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.

Subdivision 16‑B—To pay withheld amounts to the Commissioner

Table of sections

When and how to pay amounts to the Commissioner

16‑70 Entity to pay amounts to Commissioner
16‑75 When amounts must be paid to Commissioner
16‑80 Penalty for failure to pay within time
16‑85 How amounts are to be paid
16‑90 Large withholder—penalty for non‑electronic payment

Who is a large, medium or small withholder

16‑95 Meaning of large withholder
16‑100 Meaning of medium withholder
16‑105 Meaning of small withholder
16‑110 Commissioner may vary withholder's status downwards
16‑115 Commissioner may vary withholder's status upwards

Special rules for 2000‑01

16‑120 When certain amounts must be paid to the Commissioner
16‑125 Meaning of large withholder
16‑130 When and how some large withholders must pay amounts for July and August 2000
16‑135 Meaning of medium withholder

When