Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 4 - Generic assessment, collection and recovery rules  

PART 4-15 - COLLECTION AND RECOVERY OF TAX-RELATED LIABILITIES AND OTHER AMOUNTS  

Division 250 - Introduction  

Subdivision 250-A - Guide to Part 4-15  

SECTION 250-5   SOME IMPORTANT CONCEPTS ABOUT TAX-RELATED LIABILITIES  

250-5(1)    
A tax-related liability may arise for an entity before it becomes due and payable by that entity.

Example:

Under Part 2-5 , an entity ' s liability to pay a withheld amount may arise before the amount is due and payable.

250-5(2)    

For some tax-related liabilities, an assessment needs to be made before the amount of the relevant liability becomes due and payable.

Example:

Under Division 5 of the Income Tax Assessment Act 1997 , an amount of income tax needs to be assessed before it becomes due and payable.

250-5(3)    
An amount of a tax-related liability may become payable by an entity (for example, when the amount has been assessed) before it is due and payable by that entity.