Document ID: chunk:federal_register_of_legislation:C2025C00126:clause:3_4:p3
Version: federal_register_of_legislation:C2025C00126
Segment Type: clause
Provision Reference: sch 3 cl 4 (pt 3/24)
Character Range: 798954–801599

General interest charge on late payment
  If you fail to pay some or all of a *GST instalment by the time by which the GST instalment 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) started at the beginning of the day by which the GST instalment was due to be paid; and
 (b) finishes at the end of the last day on which, at the end of the day, any of the following remains unpaid:
 (i) the GST instalment;
 (ii) general interest charge on any of the instalment.

162‑105  Net amounts for GST instalment payers
  If you are a *GST instalment payer, your *net amount for an *instalment tax period is the difference between:
 (a) the amount that, but for this section, would be your *net amount under section 17‑5, 123‑15 or 126‑5 for the instalment tax period; and
 (b) the sum of all of the *GST instalments payable by you for the *GST instalment quarters of the instalment tax period.

162‑110  When payments of assessed net amounts must be made—GST instalment payers
 (1) If:
 (a) you are a *GST instalment payer; and
 (b) the *assessed net amount for an *instalment tax period applying to you is greater than zero;
you must pay the assessed net amount to the Commissioner on or before the day on which, under section 162‑60, you are required to give to the Commissioner your *GST return for the instalment tax period.
 (2) This section has effect despite sections 33‑3 and 33‑5 (which are about when payments of assessed net amounts are made).

Subdivision 162‑C—GST instalments

162‑130  What are your GST instalments
 (1) If you are a *GST instalment payer, your *GST instalments for the *GST instalment quarters of an *instalment tax period applying to you are worked out under subsections (2) and (3).
 (2) Your *GST instalment for the first *GST instalment quarter is whichever of the following you choose:
 (a) your *notified instalment amount for the GST instalment quarter; or
 (b) your *varied instalment amount for the GST instalment quarter.
 (3) Your *GST instalment for any other *GST instalment quarter is:
 (a) if you have a *notified instalment amount for the GST instalment quarter—whichever of the following you choose:
 (i) your notified instalment amount for the GST instalment quarter; or
 (ii) your *varied instalment amount for the GST instalment quarter; or
 (b) if you do not have a notified instalment amount for the GST instalment quarter—whichever of the following you choose:
 (i) 25% of your *estimated annual GST amount relating to the preceding GST instalment quarter; or
 (ii) your varied instalment amount for the GST instalment