SUPERANNUATION CONTRIBUTIONS TAX (ASSESSMENT AND COLLECTION) ACT 1997

PART 3 - ASSESSMENT AND COLLECTION OF SURCHARGE AND ADVANCE INSTALMENTS  

SECTION 21   PAYMENT OF THE GENERAL INTEREST CHARGE IF LIABILITY INCREASED BY AN AMENDMENT OF AN ASSESSMENT  

21(1)   [Liability to pay general interest charge]  

If an amendment of an assessment increasing a person's liability to pay surcharge for a financial year is made, the person is liable to pay the general interest charge on the amount of the increase for each day in the period that:


(a) started at the beginning of 15 June in the financial year; and


(b) finishes at the end of the day before the amended assessment is made.

Note:

The general interest charge is worked out under Part IIA of the Taxation Administration Act 1953 .

21(2)  


21(3)   Amendment of nil assessment.  

If:


(a) the Commissioner has calculated that no surcharge is payable by a person on a member's surchargeable contributions for a financial year; and


(b) the Commissioner afterwards makes an assessment of surcharge payable by the person on those contributions for the financial year;

the assessment referred to in paragraph (b) is taken to be an amended assessment.

21(4)  


21(5)  


21(6)  





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