INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VI - COLLECTION AND RECOVERY OF TAX  

Division 1C - Payment of instalments by companies and certain trustees  

Subdivision D - Estimates of current year's tax  

SECTION 221AZR   LIABILITY TO PAY AN ADDITIONAL AMOUNT ON UPWARDS ESTIMATE  

221AZR(1)   [Duty of taxpayer]  

If a medium or large taxpayer lodges an estimate after paying an instalment, and the amount paid was less than it would have been if it had been calculated on the basis of the estimate, the taxpayer must pay the difference to the Commissioner at the time of lodging the estimate.

221AZR(2)   [Treatment of additional payment]  

The taxpayer's additional payment is to be treated as being part of the instalment concerned for all purposes of this Act (other than Part IIIAA ).

221AZR(3)