INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VI - COLLECTION AND RECOVERY OF TAX  

Division 3B - Collection of tax in respect of certain payments  

Subdivision C - Collection of TFN withholding tax payable on the non-quotation of tax file numbers in respect of eligible deferred interest investments  

SECTION 221YHZW   WHEN TFN WITHHOLDING TAX PAYABLE  

221YHZW(1)   [Tax due after 21 days or as allowed]  

TFN withholding tax is due and payable at the end of:

(a) 21 days after the end of the year of income (within the meaning of section 221YHZQ ) to which the undeducted TFN amount relates; or

(b) such further period as the Commissioner, in special circumstances, allows.

221YHZW(2)   Application.  

The Commissioner must not exercise his or her power under paragraph (1)(b) on or after 1 July 2000.

Note:

For provisions about collection and recovery of TFN withholding tax on or after 1 July 2000, see Part 4-15 in Schedule 1 to the Taxation Administration Act 1953 .