Document ID: chunk:federal_register_of_legislation:C2025C00029:section:115:p5
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 115 (pt 5/40)
Character Range: 6511127–6513831

Note: This section does not affect the time at which the group liability arose for, or became due and payable by, the head company.
 (5A) Despite subsection (5), if the group liability is *general interest charge for a day, the liability of a TSA contributing member under subsection (2) becomes due and payable by the member at the end of the day on which the Commissioner gives the member written notice of the liability under subsection (5).
 (6) The liability of a TSA contributing member under subsection (2) is to be treated as a liability for income tax for the purposes of section 254 of the Income Tax Assessment Act 1936.

721‑32  Notice of general interest charge liability under TSA
 (1) This section operates if:
 (a) the group liability is *general interest charge for a day in relation to another liability (the primary liability); and
 (b) the Commissioner gives a particular TSA contributing member written notice under subsection 721‑30(5) of its liability under subsection 721‑30(2) in relation to the general interest charge for that day; and
 (c) general interest charge arises for a subsequent day in relation to the primary liability; and
 (d) the TSA contributing member is liable under subsection 721‑30(2) for an amount in relation to the general interest charge for the subsequent day.
 (2) The Commissioner is taken to have given the TSA contributing member written notice under subsection 721‑30(5) of the amount in relation to the *general interest charge for the subsequent day. The notice is taken to have been given on that day.

721‑35  When a TSA contributing member has left the group clear of the group liability
  For the purposes of subsection 721‑30(3), a TSA contributing member left the group clear of the group liability if:
 (a) the TSA contributing member ceased to be a member of the group at a time (the leaving time) before the *head company's due time; and
 (b) the cessation of membership was not part of an arrangement, a purpose of which was to prejudice the recovery by the Commissioner of some or all of the amount of the group liability or liabilities of that kind; and
 (c) before the leaving time, the TSA contributing member had paid to the head company:
 (i) if the contribution amount for that member in relation to the group liability could be determined before the leaving time—an amount equal and attributable to that amount; or
 (ii) otherwise—an amount that is a reasonable estimate of, and attributable to, that amount.

721‑40  TSA liability and group liability are linked
 (1) The liability of a TSA contributing member under subsection 721‑30(2) (the TSA liability) is separate and distinct for all purposes from the group liability to