Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_4:p1
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 1/43)
Character Range: 559565–562199

4                                 30 June                                                   the following 28 July

Payment of income of closely held trust
 (5) A trustee must pay to the Commissioner an amount the trustee withholds under section 12‑175 or 12‑180 from a payment made during an income year. The trustee must do so:
 (a) by the end of the 28th day of the next month following the day by which the trustee was required to give to the Commissioner a report under subsection 16‑152(1) for the income year; or
 (b) within a longer period allowed by the Commissioner.

16‑80  Penalty for failure to pay within time
  If an amount that an entity must pay to the Commissioner under subsection 16‑70(1) or (3) remains unpaid after the time by which it is due to be paid, the entity 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 unpaid 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 unpaid amount;
 (ii) general interest charge on any of the unpaid amount.

16‑85  How amounts are to be paid

Large withholder
 (1) A *large withholder must pay to the Commissioner by a means of *electronic payment:
 (a) an amount that it withholds under Division 12; and
 (b) an amount that it pays to the Commissioner under Division 13 or 14.
Note 1: A different rule applies for some large withholders for July and August 2000. See section 16‑130.
Note 2: A penalty applies if a large withholder fails to pay electronically as required—see section 288‑20.
Note 3: A large withholder must also pay other tax debts electronically—see section 8AAZMA.

Medium or small withholder
 (2) A *medium withholder or *small withholder must pay to the Commissioner:
 (a) any amount that it withholds under Division 12; and
 (b) any amount that it pays to the Commissioner under Division 13 or 14;
by a means of *electronic payment, or any other means approved in writing by the Commissioner.

Commissioner may vary payment method
 (3) The Commissioner may, with an entity's agreement, vary the means by which the withholder pays amounts to the Commissioner under this Subdivision. The variation must be by written notice given to the entity.

Who is a large, medium or small withholder

16‑95  Meaning of large withholder
 (1) An entity is a large withholder for a particular month (the current month) in a *financial year starting on or after 1 July 2001 if:
 (a) it was a *large withholder for June 2001; or
 (b) the *amounts withheld by the entity during a