A New Tax System (Goods and Services Tax) Act 1999
Note:
The special rules in this Part mainly modify the operation of Part 2-7 , but they may affect other Parts of Chapter 2 in minor ways.
Division 162 - Payment of GST by instalments Subdivision 162-B - Consequences of electing to pay GST by instalments 162-100 General interest charge on late paymentIf you fail to pay some or all of a *GST instalment by the time by which the GST instalment 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) started at the beginning of the day by which the GST instalment was due to be paid; and
(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 GST instalment;
(ii) general interest charge on any of the instalment.
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