Tax Laws Amendment (Transfer of Provisions) Act 2010 (79 of 2010)
Schedule 1 Collection and recovery of tax
Part 2 Consequential amendments
Income Tax Assessment Act 1936
25 Subsection 254(2)
Repeal the subsection, substitute:
(2) Subsection (1) applies to the following in the same way as it applies to tax:
(a) the general interest charge under:
(i) section 163AA, former section 170AA, former subsection 204(3), former subsection 221AZMAA(1), former subsection 221AZP(1), former subsection 221YD(3) or former section 221YDB of this Act;
(ii) section 5-15 of theIncome Tax Assessment Act 1997;
(b) additional tax under former Part VII of this Act;
(c) shortfall interest charge.
Note 1: The general interest charge is worked out under Part IIA of theTaxation Administration Act 1953 and shortfall interest charge is worked out under Division 280 in Schedule 1 to that Act.
Note 2: Subsection 8AAB(4) of that Act lists the provisions that apply the general interest charge.