Document ID: chunk:federal_register_of_legislation:C2025C00158:section:11:p2
Version: federal_register_of_legislation:C2025C00158
Segment Type: section
Provision Reference: s 11 (pt 2/2)
Character Range: 30330–32245

penalty days 16‑30 September is 60 cents (which is 0.02 divided by 30 and the result multiplied by $900).
 The total penalty for the penalty days 16‑30 September is $9 (equal to the daily penalty of 60 cents multiplied by 15).
 The total penalty for September is $24.
 Calculation of penalty in October based on unpaid amount of $900 and total penalty of $24 for September
 The penalty for each of the penalty days 1‑9 October is as follows:
(a) the amount at step 1 is 0.02 divided by 31, which is 0.00064516129;
(b) the amount at step 2 is 0.00064516129 multiplied by $924 (the outstanding balance of $900 plus the $24 penalty for September), which is $0.59612903196;
(c) the amount at step 3 is 60 cents, which is the amount of the penalty for each of the penalty days 1‑9 October.
 The total penalty for the penalty days 1‑9 October is $5.40 (equal to the daily penalty of 60 cents multiplied by 9).
 Total penalty
 Since the outstanding balance of $900 is paid on 10 October, there is no further penalty. The total amount of penalty to be paid is $29.40 ($24 for September plus $5.40 for October).

When penalty is due and payable
 (4) The amount of penalty under this section for a day is due and payable to the Commonwealth at the end of that day.

Remission of penalty
 (5) The Secretary may remit the whole or a part of an amount of penalty under this section.
 (6) In deciding whether to do so, the Secretary:
 (a) must take into account the following:
 (i) whether the failure to pay the equivalent amount, that resulted in the penalty, was the result of an honest mistake or inadvertence by the collection agent;
 (ii) the circumstances in which that failure occurred;
 (iii) the amount of the penalty;
 (iv) the collection agent's history of compliance with this Act and the rules; and
 (b) may take into account any other matter that the Secretary considers relevant.

Division 4—Collection agreements