Tax Laws Amendment (Transfer of Provisions) Act 2010 (79 of 2010)

Schedule 1   Collection and recovery of tax

Part 1   Main amendments

Taxation Administration Act 1953

7   After subsection 255-10(2) in Schedule 1

Insert:

Deferrals for classes of taxpayers

(2A) The Commissioner, having regard to the circumstances of the case, may, by notice published on the Australian Taxation Office website, defer the time at which amounts of*tax-related liabilities are, or would become, due and payable by a class of taxpayers (whether or not the liabilities have already arisen).

(2B) If the Commissioner does so, that time is varied accordingly.

Note: General interest charge and any other relevant penalties, if applicable for any unpaid amounts of the liabilities, will begin to accrue from the time as varied. See, for example, paragraph 5-15(a) of theIncome Tax Assessment Act 1997.

(2C) A notice published under subsection (2A) is not a legislative instrument.

Deferral does not affect time for giving form