SUPERANNUATION CONTRIBUTIONS TAX (ASSESSMENT AND COLLECTION) ACT 1997

PART 4 - RECOVERY OF UNPAID SURCHARGE, ADVANCE INSTALMENT, GENERAL INTEREST CHARGE OR LATE PAYMENT PENALTY  

SECTION 25   PENALTY FOR NON-PAYMENT OF SURCHARGE OR ADVANCE INSTALMENT  

25(1)   Liability to pay general interest charge.  

If an amount of surcharge or advance instalment that a person is liable to pay remains unpaid after the time by which it is due to be paid, the person is liable to pay the general interest charge on the unpaid amount.

Note:

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

25(2)   General interest charge period.  

The person is liable to pay the general interest charge for each day in the period that:


(a) started at the beginning of the day by which the surcharge or advance instalment was due to be paid; and


(b) finishes at the end of the last day on which, at the end of the day, any of the following remains unpaid:


(i) the surcharge;

(ii) the advance instalment;

(iii) general interest charge on any of the surcharge or the advance instalment.

25(3)  


25(3A)  


25(3B)   Commissioner's right to sue not affected.  

This section does not prevent the Commissioner from suing for the recovery of any unpaid surcharge, advance instalment, general interest charge or late payment penalty at any time after it becomes due and payable.

25(4)  





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