Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 162.100

    If 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.