Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997

PART 3 - ASSESSMENT AND COLLECTION OF SURCHARGE  

SECTION 18   LIABILITY TO PAY THE GENERAL INTEREST CHARGE IF LIABILITY INCREASED BY AN AMENDMENT OF AN ASSESSMENT  

18(1)   Liability to pay general interest charge.  

If an amendment of an assessment increasing a member's liability to pay surcharge for a financial year is made, the member is liable to pay the general interest charge on the amount of the increase 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 amended assessment is made.

Note:

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

18(2)  


18(3)   Amendment of nil assessment.  

If:


(a) the Commissioner has calculated that no surcharge is payable by a member on the member's surchargeable contributions for a financial year; and


(b) the Commissioner afterwards makes an assessment of surcharge payable by the member on those contributions for the financial year;

the assessment referred to in paragraph (b) is taken to be an amended assessment.

18(4)  


18(5)  


18(6)  



 

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