Superannuation Contributions Tax (Assessment and Collection) Act 1997

PART 3 - ASSESSMENT AND COLLECTION OF SURCHARGE AND ADVANCE INSTALMENTS  

SECTION 22  

22   PAYMENT OF GENERAL INTEREST CHARGE IF SURCHARGE PAYABLE UNDER A FURTHER ASSESSMENT  


If, under an assessment (the new assessment ) made under subsection 15(1) because of subsection 20(3) , a person is liable to pay an amount of surcharge for a financial year, the person is liable to pay the general interst charge on that amount for each day in the period that:


(a) started at the beginning of 15 June in the financial year; and


(b) finishes at the end of the day before the new assessment is made.

Note:

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


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.