Taxation Administration Act 1953
View history note
Hide history noteNote: See section 3AA .
Chapter 4 - Generic assessment, collection and recovery rulesThe *shortfall interest charge for a day is worked out by multiplying the rate worked out under subsection (2) for that day by the sum of these amounts: (a) the additional amount of income tax, *excess exploration credit tax, *petroleum resource rent tax, *excess non-concessional contributions tax or *Division 293 tax; and (b) the shortfall interest charge on that amount from previous days.
280-105(2)
The rate is:
| *Base interest rate
3 percentage
for the day + points Number of days in the calendar year |
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