New South Wales Consolidated Acts

BUILDING AND CONSTRUCTION INDUSTRY LONG SERVICE PAYMENTS ACT 1986 - SECT 43

43 Payment of long service levies by instalments

(1) Notwithstanding anything to the contrary in this Part, the person liable to pay a long service levy in respect of the erection of a building may pay that levy by instalments in accordance with this section if the Corporation is satisfied that the cost of erecting the building exceeds the prescribed amount referred to in subsection (6) and that:

(a) the time reasonably required to erect the building exceeds 1 year, or

(b) the obligation of the person to pay the long service levy in a lump sum is unduly onerous.

(2) For the purposes of subsection (1):

(a) each instalment of a long service levy in respect of the erection of a building shall be of such amount as may be determined by the Corporation and notified to the person liable to pay that long service levy, and

(b) the first instalment is due and payable before work is commenced on the erection of the building and the subsequent instalments are due and payable at such times before the completion of work on the erection of the building as may be so determined and notified.

(3) Where a person pays a long service levy by instalments, any instalments of that long service levy which are not due and payable:

(a) shall not be recoverable by the Corporation, and

(b) shall not bear interest under section 46.

(4) Where a person fails to pay any instalment of a long service levy on or before the due date for payment of that instalment:

(a) the total amount of the instalments unpaid on that date shall become due and payable to, and recoverable by, the Corporation, and

(b) section 46 shall apply in respect of the unpaid balance of the long service levy,

as if that person were not paying the long service levy by instalments in accordance with this section.

(5) The Corporation may accept the payment of an instalment of a long service levy which is made after the due date for its payment and, for the purposes of this section, any such instalment shall, if the Corporation so directs, be deemed to have been paid on the due date for its payment.

(6) For the purposes of subsection (1), the prescribed amount is:

(a) except as provided by paragraph (b)-$100,000, or

(b) such other amount as may be prescribed by the regulations.