Payment instalments: authority may allow deferred tax payments with interest, but default accelerates full recovery without notice. Commissioner may, on application and for reasons recorded in writing, extend time or allow payment of amounts due (excluding self-assessed return ... Summary
Payment instalments: authority may allow deferred tax payments with interest, but default accelerates full recovery without notice.
Commissioner may, on application and for reasons recorded in writing, extend time or allow payment of amounts due (excluding self-assessed return liabilities) by monthly instalments subject to payment of interest under section 50 and prescribed conditions; default of any instalment accelerates the entire outstanding balance, making it immediately due and liable for recovery without further notice.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.