Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT 1984No. 123, 1984 - SECT 137

137. Section 221YHJ of the Principal Act is amended by omitting sub-sections
(1) and (2) and substituting the following sub-section:

"(1) Where an amount (in this sub-section referred to as the 'principal
amount') payable to the Commissioner by an eligible paying authority other
than the Commonwealth by virtue of sub-sub-paragraph 221YHD (1) (b) (v) (A) or
sub-paragraph 221YHD (1D) (c) (i) remains unpaid after the expiration of the
period within which it is required to be paid-

   (a)  the principal amount continues to be payable by the eligible paying
        authority to the Commissioner; and

   (b)  the eligible paying authority is liable to pay to the Commissioner, by
        way of penalty-

        (i)    in a case where the eligible paying authority is a government
               body-an amount at the rate of 20% per annum on so much of the
               principal amount as remains unpaid, computed from the
               expiration of that period; and

        (ii)   in any other case-

                (A)  an amount (in this sub-paragraph referred to as the
                     'relevant penalty amount') equal to 20% of the principal
                     amount; and

                (B)  an amount at the rate of 20% per annum of the sum of so
                     much of the principal amount as remains unpaid and so
                     much of the relevant penalty amount as remains unpaid,
                     computed from the expiration of that period.".