Document ID: chunk:federal_register_of_legislation:C2018C00085:clause:6_2:p12
Version: federal_register_of_legislation:C2018C00085
Segment Type: clause
Provision Reference: sch 6 cl 2 (pt 12/13)
Character Range: 111469–114145

Due date for payment of excess exploration credit tax
  An entity's *excess exploration credit tax for an income year, as assessed under Schedule 1 to the Taxation Administration Act 1953, is due and payable at the end of the day by which the entity is required under section 418‑160 to give the return relating to the income year.
Note: For assessments of excess exploration credit tax, see Division 155 in Schedule 1 to the Taxation Administration Act 1953.

418‑160  Returns
  An entity that is liable to pay *excess exploration credit tax for an income year must give the Commissioner a return relating to excess exploration credit tax, in the *approved form, within 21 days after the end of the *financial year corresponding to the income year.

418‑165  When shortfall interest charge is payable
  An amount of *shortfall interest charge that an entity is liable to pay is due and payable 21 days after the day on which the Commissioner gives the entity notice of the charge.
Note: Shortfall interest charge is imposed if the Commissioner amends an assessment and the amended assessment results in an increase in some tax payable. For provisions about liability for shortfall interest charge, see Division 280 in Schedule 1 to the Taxation Administration Act 1953.

418‑170  General interest charge
  If:
 (a) *excess exploration credit tax or *shortfall interest charge payable by an entity remains unpaid after the time by which it is due and payable; and
 (b) the Commissioner has not allocated the unpaid amount to an *RBA;
the entity is liable to pay the *general interest charge on the unpaid amount for each day in the period that:
 (c) starts at the beginning of the day on which the excess exploration credit tax or shortfall interest charge was due to be paid; and
 (d) ends at the end of the last day on which, at the end of the day, any of the following remains unpaid:
 (i) the excess exploration credit tax or shortfall interest charge;
 (ii) general interest charge on any of the excess exploration credit tax or shortfall interest charge.
Note: The general interest charge is worked out under Part IIA of the Taxation Administration Act 1953.

418‑175  Refunds of amounts overpaid
  Section 172 of the Income Tax Assessment Act 1936 applies for the purposes of this Division as if references in that section to tax included references to *excess exploration credit tax.

418‑180  Record keeping
  Section 262A of the Income Tax Assessment Act 1936 applies for the purposes of this Division as if:
 (a) the reference in that section to a person carrying on a business were a reference to a *corporate tax entity; and
 (b) the reference in paragraph (2)(a)