137DDeferral scheme

137D Deferral scheme (1) The Minister may determine a scheme (a deferral scheme) for deferring the following: (a) tax payable under a tax law; (b) lodging a return required under a tax law. (2) The deferral scheme must include the following matters: (a) who is eligible to participate in the scheme; (b) the tax amount, or requirement to lodge a return, that may be deferred under the scheme; (c) a statement about whether, in the Minister’s opinion, the scheme is consistent with human rights. (3) The deferral scheme may include the following matters: (a) how an application for deferral is to be made under the scheme; (b) information that the commissioner may require to decide an application; (c) conditions to which a deferral arrangement may be subject, including the rate of interest charged on the amount deferred. Division 11.5A Revenue measures—deferral, exemption and rebate schemes (4) The deferral scheme may provide for any other relevant matter to be determined by the commissioner by notifiable instrument. (5) The amount payable under a deferral scheme is a debt owing to the Territory. (6) If the tax deferred under a deferral scheme relates to the holding of a property—the tax deferred is the first charge on the person’s interest in the property to which the deferred tax relates. (7) A deferral scheme determination is a disallowable instrument.