Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) * Managed investment trust withholding tax is due and payable by you at the end of 21 days after:
(a) if subsection 840 - 805(2) or (3) applies to you--the end of the month in which the fund payment part is paid, applied or dealt with; or
(b) if subsection 840 - 805(4) applies to you--the end of the month in which the entitlement time occurs.
(2) If any of the * managed investment trust withholding tax that you are liable to pay remains unpaid after the time by which it 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) starts at the beginning of the day by which the withholding tax was due to be paid; and
(b) ends at the end of the last day on which, at the end of the day, any of the following remains unpaid:
(i) the withholding tax;
(ii) general interest charge on any of the withholding tax.
Note: The general interest charge is worked out under Part IIA of the Taxation Administration Act 1953 .
(3) The Commissioner may give you a notice specifying:
(a) the amount of any * managed investment trust withholding tax that the Commissioner has ascertained is payable by you; and
(b) the day on which that tax became due and payable.
(4) The ascertainment of an amount of * managed investment trust withholding tax is not an assessment for the purposes of this Act.
(5) The production of a notice given under subsection (3), or of a copy of it certified by or on behalf of the Commissioner, is conclusive evidence that the notice was given and of the particulars in it.