Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Commissioner may make with a person a written agreement under which the person is to pay specified amounts, on specified days, for the purpose of discharging one or more specified liabilities of the person, each of which is:
(a) a liability under a remittance provision; or
(b) a liability to pay an estimate.
(2) An agreement may contain other provisions.
(3) An agreement may also provide that, if the person contravenes specified provisions of it, so much of the total of the specified amounts as remains unpaid becomes due and payable on the day of the contravention. If an agreement so provides, the specified provisions are called special conditions .
(4) The amounts specified in an agreement are due and payable on the specified days.
(5) However, if:
(a) a specified amount is not paid on or before the specified day; or
(b) the person contravenes a special condition;
so much of the total of the specified amounts as remains unpaid:
(c) becomes due and payable on that day, or on the day of the contravention, as the case may be; and
(d) is called the balance payable under the agreement .
(6) Subsections (4) and (5) have effect despite Divisions 1AAA, 3B and 4 and the other provisions of this Division, but are to be ignored:
(a) in calculating a penalty under any of those Divisions; and
(b) for the purposes of this Division (except this section) and Division 9.
(7) The Commissioner may make with a person a written agreement varying or terminating an agreement with the person that is in force under this section.
(8) Nothing in Division 9 obliges the Commissioner to enter into an agreement with a company.