Petroleum Resource Rent Tax Assessment Act 1987
A person is liable to pay the general interest charge on any amount of any of the following that remains unpaid after the time by which payment is due:
(a) tax the person is liable to pay;
(b) shortfall interest charge the person is liable to pay in relation to tax;
(c) instalment transfer interest charge the person is liable to pay in relation to an instalment of tax.
Note:
The general interest charge is worked out under Part IIA of the Taxation Administration Act 1953 .
View history note
Hide history note85(2)
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 tax, shortfall interest charge or instalment transfer interest charge 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 tax, shortfall interest charge or instalment transfer interest charge;
(ii) general interest charge on any of the tax, shortfall interest charge or instalment transfer interest charge.
85(3)
(Repealed by No 78 of 2006)
85(4)
(Repealed by No 78 of 2006)
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