Petroleum Resource Rent Tax Assessment Amendment Act 2006 (78 of 2006)
Schedule 4 Self-assessment
Part 1 Amendments
Petroleum Resource Rent Tax Assessment Act 1987
12 Subsection 85(1)
Repeal the subsection, substitute:
(1) A person is liable to pay the general interest charge on any amount of any of the following that remains unpaid after the time by which payment is due:
(a) tax the person is liable to pay;
(b) shortfall interest charge the person is liable to pay in relation to tax;
(c) instalment transfer interest charge the person is liable to pay in relation to an instalment of tax.
Note: The general interest charge is worked out under Division 1 of Part IIA of the Taxation Administration Act 1953.
Note: The heading to section 85 is altered by adding at the end " and charges ".