TAXATION (INTEREST ON OVERPAYMENTS AND EARLY PAYMENTS) ACT 1983

PART IIIB - ADJUSTMENT OF INTEREST  

SECTION 12D   12D   INTEREST TO BE IN MULTIPLES OF 1 CENT  
If an amount of interest calculated under this Act is not a multiple of 1 cent, the amount of interest is to be:


(a) if the amount of interest is a multiple of 0.5 cent - increased by 0.5 cent; or


(b) in any other case - increased or decreased, as the case requires, to the nearest multiple of 1 cent.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.