151. Extension of time for payment

The taxpayer may apply, on a form specified by the Commissioner-General, for an extension of the time for payment of tax beyond the date on which it is required to be paid under section 145 of this Act.

The Commissioner-General may, with good cause, extend the time for payment as requested under subsection (1) and may grant an extension period different from the period requested by the taxpayer, pending resolution of an appeal, and may make other arrangements to ensure payment of the tax, including arrangements requiring the person to pay the amount due in instalments or by requiring security.

Where the Commissioner-General does not notify the person who made application under subsection (1), of the decision in writing within thirty days, the application shall be deemed to be granted.

Where a taxpayer has been granted an extension under subsection (1), interest shall be payable notwithstanding the extension of time.

If an extension is granted by permitting the taxpayer to pay the tax by instalments and the taxpayer defaults in paying any of the instalments, the amount of the outstanding tax shall become payable immediately.