Amount of collection instalment
101 Amount of collection instalment
The amount of the collection instalment payable is the total of the following—
the levy proportion of any relevant payments made to the local council during the reconciliation period that were applied towards the financial year in which the reconciliation period ends,
the levy proportion of any relevant payments made to the local council during the reconciliation period that were applied towards a previous financial year.
Note.
Local councils may recover overdue amounts of rates and charges, or levies, over time. Accordingly, this provision ensures that they are still required to account to the Treasurer for the levy component of amounts recovered even when they are recovered after the financial year in which they are due.
The levy proportion of any relevant payments that are applied towards a financial year that commences before the 2017/2018 financial year is taken to be zero.
This Act’s bill:Explanatory memorandumSecond reading speech
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