Part 3Late payment penalties

Part 3—Late payment penalties

8 Late payment penalty payable

(1) If any annual charge payable by a person remains unpaid after the due date, the person is liable to pay to the Commonwealth, by way of penalty, an amount calculated in accordance with this section.

(2) The amount is calculated, for each day the charge remains unpaid from the due date, by multiplying the daily rate worked out by reference to the rate of late payment penalty mentioned in section 9 for the day by the sum of so much of the following amounts as remains unpaid:

(a) annual charge; and

(b) late payment penalty payable from previous days.

9 Rate of late payment penalty

In order to work out the daily rate referred to in subsection 8(2), the rate of late payment penalty is:

(a) 20% per annum; or

(b) if, for any day, the previous financial year average GIC rate is less than 20% per annum – the previous financial year average GIC rate.

10 Remission of late payment penalty

(1) Subject to subsection (5), the ACMA may remit the whole or a part of an amount of late payment penalty, on the ACMA’s own initiative or on receiving an application under subsection (2). (2) A person may apply to the ACMA for remission of an amount of late payment penalty payable by the person. (3) An application under subsection (2):

(a) must be in writing; and

(b) must specify the reasons why the applicant failed to pay the annual charge concerned by the due date; and

(c) may include any other information that the applicant considers relevant.

(4) The ACMA may ask the applicant, in writing, to give it additional information to allow it to make a decision in relation to the application.

Note: If a person does not provide the additional information, the ACMA may make a decision based on the information available, noting the timeframe within which the ACMA must make the decision (see section 556 of the Act).