Taxation Laws Amendment Act (No. 3) 1999 (11 of 1999)

Schedule 1   Running balance accounts, general interest charge and related matters

Part 1   Amendments

Income Tax Assessment Act 1936

247   Section 221ZXG

Omit “the Commissioner a penalty of 20% per annum of”, substitute “general interest charge, for each day in the period in subsection (2), on”.