Income Tax Assessment Act 1936

SCHEDULE 2F - TRUST LOSSES AND OTHER DEDUCTIONS  

View history reference

Division 271 - Family trust distribution tax  

View history reference

 View history note

 Hide history note

History

Div 271 inserted by No 17 of 1998.

SECTION 271-80  

271-80   LATE PAYMENT OF FAMILY TRUST DISTRIBUTION TAX  

View history reference

If any of the family trust distribution tax which a person is liable to pay remains unpaid 60 days after the day by which it is due to be paid, the person is liable to pay the general interest charge on the unpaid amount for each day in the period that:

(a) began at the beginning of the 60th day after the day by which the family trust distribution tax was due to be paid; and

View history reference

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

(i) the family trust distribution tax;

(ii) general interest charge on any of the family trust distribution tax.

Note:

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

 View history note

 Hide history note

History

S 271-80 amended by No 124 of 2013, s 3 and Sch 2 item 63, by substituting " began " for " started " in para (a), effective 29 June 2013.

S 271-80 amended by No 101 of 2006 , s 3 and Sch 2 item 1037, by omitting the reference to a repealed inoperative Division in the note, effective 14 September 2006. For application and savings provisions see the CCH Australian Income Tax Legislation archive .

S 271-80 inserted by No 17 of 1998 and substituted by No 178 of 1999.

 View history note

 Hide history note

History

Archived:

S 271-85 repealed as inoperative by No 101 of 2006 , s 3 and Sch 1 item 197, effective 14 September 2006. For application and savings provisions and for former wording see the CCH Australian Income Tax Legislation archive .

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.