Extension of time and instalment relief may be granted, but missing a payment triggers default and acceleration of the balance. The Commission may, on an application made before the demand notice due date, extend payment time or permit payment by instalments subject to conditions. ... Summary
Extension of time and instalment relief may be granted, but missing a payment triggers default and acceleration of the balance.
The Commission may, on an application made before the demand notice due date, extend payment time or permit payment by instalments subject to conditions. Failure to pay within an extension results in the enterprise being deemed in default. If any instalment is missed, the enterprise is deemed in default for the whole outstanding penalty and the other instalments are accelerated and treated as due on the date of the missed instalment.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 1 
Join Channel 
