SUPERANNUATION CONTRIBUTIONS TAX (ASSESSMENT AND COLLECTION) ACT 1997

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

SECTION 25A   ADDITIONAL LIABILITY TO PAY GENERAL INTEREST CHARGE  

25A(1)   Commissioner may give notice.  

If general interest charge (the primary general interest charge ) is payable by a person under section 21 or 22 , the Commissioner may give a notice to the person specifying a date after which general interest charge will apply under this section. The specified date must be at least 30 days after the notice is given.

25A(2)   Liability to pay general interest charge.  

If any of the primary general interest charge remains unpaid after the day specified in the notice, the person is liable to pay general interest charge on the unpaid amount.

Note:

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

25A(3)   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 specified in the notice; 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) primary general interest charge;

(ii) general interest charge on primary general interest charge.




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