SUPERANNUATION CONTRIBUTIONS TAX (ASSESSMENT AND COLLECTION) ACT 1997

PART 3 - ASSESSMENT AND COLLECTION OF SURCHARGE AND ADVANCE INSTALMENTS  

SECTION 22   22   PAYMENT OF GENERAL INTEREST CHARGE IF SURCHARGE PAYABLE UNDER A FURTHER ASSESSMENT  


If, under an assessment (the new assessment ) made under subsection 15(1) because of subsection 20(3) , a person is liable to pay an amount of surcharge for a financial year, the person is liable to pay the general interst charge on that amount 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 new assessment is made.

Note:

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




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