145Lodgement of returns and payment of duty

145 Lodgement of returns and payment of duty (1) A commercial hire business must, on or before the 21st day of each month— (a) lodge a return with the Commissioner; and (b) pay to the Commissioner the appropriate amount of duty calculated in accordance with section 134 in respect of the previous month, subject to the duty-free threshold in subsection (2). S. 145(2) amended by No. 79/2001 s. 10(2). (2) A duty-free threshold of $6000 per month applies in respect of hiring charges received from hires that are not special hiring agreements or equipment financing arrangements (that is, duty is payable only on such part of the total amount of those charges as exceeds $6000). (3) The Commissioner may by notice in writing approve of the lodgement by a commercial hire business of returns in respect of a period of more than one month, and in such a case— (a) the return must be lodged, and the duty paid, on or before the 21st day of the month following the last month to which the return relates; and (b) the duty payable on the return is the sum of the duties payable on a monthly basis in accordance with this section for each month to which the return relates. (4) A commercial hire business may elect to pay the duty payable on a special hiring agreement by lodging a statement under section 147. In that event, returns under this section in respect of the agreement are not necessary. (5) If, in relation to a special hiring agreement— (a) a commercial hire business makes an election under subsection (4); and (b) the special hiring agreement is terminated before the expiry of the term expressed in the agreement— the commercial hire business may request a reassessment of duty as if the duty had been paid on a return under this section. S. 145(6) inserted by No. 36/2005 s. 17(3). (6) Nothing in this section requires a commercial hire business to— (a) lodge a return in respect of a month occurring after December 2006; or (b) pay duty in respect of any hiring charges received on or after 1 January 2007.