Income Tax Assessment Act 1997
Your excess transfer balance earnings for a day is worked out by multiplying the rate mentioned in subsection (2) for that day by the amount of your *excess transfer balance at the end of that day. 294-235(2)
The rate is the lower of:
(a) the rate worked out under subsection 8AAD(1) of the Taxation Administration Act 1953 for the day; and
(b) a rate determined under subsection (3) for the day. 294-235(3)
The Minister may, by legislative instrument, determine a rate for a day.
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