Instalment payment of tax permits deferred monthly payments with interest, but default accelerates the entire balance immediately. Taxable persons may apply for written permission from the Commissioner to pay amounts due under the Act in monthly instalments up to twenty four months, subject to interest under section 50 and prescribed conditions; amounts self assessed in returns are excluded. Default of any instalment accelerates the whole outstanding balance, which becomes immediately due and liable for recovery without further notice.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Instalment payment of tax permits deferred monthly payments with interest, but default accelerates the entire balance immediately.
Taxable persons may apply for written permission from the Commissioner to pay amounts due under the Act in monthly instalments up to twenty four months, subject to interest under section 50 and prescribed conditions; amounts self assessed in returns are excluded. Default of any instalment accelerates the whole outstanding balance, which becomes immediately due and liable for recovery without further notice.
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