DMBM515040 - Debt and return pursuit: Self Assessment: debt and return background: debt types

»Ê¹ÚÌåÓýapp majority of this manual will be archived on 1 July 2024. If there is content within this manual you use regularly, email [email protected] to let us know.

SA debt types

SA debts will include

  • overdue Payments on Account
  • Payments due as a result of
  • a return (balancing payment)
  • a Revenue determination
  • an assessment (including 1995/96 and prior assessments)
  • a penalty
  • a surcharge
  • an interest charge.

Each month the computer will review all taxpayers� records and, where appropriate, set unallocated credits against any outstanding charges due within the next 45 days following the review.

Legislation

»Ê¹ÚÌåÓýapp legislation that covers payments on account and balancing payments is in Sections 59A and 59B TMA 1970. For a brief explanation of what the legislation contains see the table at DMBM450110.