Taxation Administration Act 1953
SCHEDULE 1
-
COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
PART 3-20
-
SUPERANNUATION
Division 134
-
Division 296 tax
Subdivision 134-C
-
Compulsory payment
Division 296 debt account discharge liability
SECTION 134-115 134-115 GENERAL INTEREST CHARGE
If your * Division 296 debt account discharge liability remains unpaid after the time by which it is due and payable, you are liable to pay the * general interest charge on the unpaid amount for each day in the period that: (a) begins on the day on which the Division 296 debt account discharge liability was due to be paid; and (b) ends on the last day on which, at the end of the day, any of the following remains unpaid:
View history note
Hide history noteNote: See section 3AA .
Chapter 3 - Collection, recovery and administration of other taxesSECTION 134-115 134-115 GENERAL INTEREST CHARGE
If your * Division 296 debt account discharge liability remains unpaid after the time by which it is due and payable, you are liable to pay the * general interest charge on the unpaid amount for each day in the period that: (a) begins on the day on which the Division 296 debt account discharge liability was due to be paid; and (b) ends on the last day on which, at the end of the day, any of the following remains unpaid:
(i) the Division 296 debt account discharge liability;
(ii) general interest charge on any of the Division 296 debt account discharge liability.
Note:
The general interest charge is worked out under Part IIA . For the rate of general interest charge payable, see subsection 8AAC(3) .
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.