Income Tax Assessment Act 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 840 - Withholding taxes  

Subdivision 840-M - Managed investment trust withholding tax  

Operative provisions

SECTION 840-810   When managed investment trust withholding tax is payable  

840-810(1)    
* Managed investment trust withholding tax is due and payable by you at the end of 21 days after:

(a) if subsection 840-805(2) or (3) applies to you - the end of the month in which the fund payment part is paid, applied or dealt with; or

(b) if subsection 840-805(4) applies to you - the end of the month in which the entitlement time occurs.

840-810(2)    
If any of the * managed investment trust withholding tax that you are liable to pay remains unpaid after the time by which it is due to be paid, you are liable to pay the * general interest charge on the unpaid amount for each day in the period that:

(a) starts at the beginning of the day by which the withholding tax was due to be paid; and

(b) ends at the end of the last day on which, at the end of the day, any of the following remains unpaid:

(i) the withholding tax;

(ii) general interest charge on any of the withholding tax.

Note:

The general interest charge is worked out under Part IIA of the Taxation Administration Act 1953 .

840-810(3)    
The Commissioner may give you a notice specifying:

(a) the amount of any * managed investment trust withholding tax that the Commissioner has ascertained is payable by you; and

(b) the day on which that tax became due and payable.

840-810(4)    
The ascertainment of an amount of * managed investment trust withholding tax is not an assessment for the purposes of this Act.

840-810(5)    
The production of a notice given under subsection (3) , or of a copy of it certified by or on behalf of the Commissioner, is conclusive evidence that the notice was given and of the particulars in it.