Taxation Laws Amendment Act (No. 3) 1999 (11 of 1999)

Schedule 1   Running balance accounts, general interest charge and related matters

Part 1   Amendments

Tobacco Charges Assessment Act 1955

394   Section 18

Repeal the section, substitute:

18 Unpaid charge

(1) If any of a charge which a person is liable to pay remains unpaid after the time by which the charge is due to be paid, the person is liable to pay the general interest charge ( GIC ) on the unpaid amount.

Note 1: The GIC is worked out under Division 1 of Part IIA of theTaxation Administration Act 1953.

Note 2: If a broker is also liable under section 12 to pay the charge, the person is only liable to pay the GIC in certain circumstances: see subsection (3).

(2) The person is liable to pay the GIC for each day in the period that:

(a) started at the beginning of the day by which the 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 charge;

(ii) GIC on any of the charge.

(3) However, if a broker is required to pay the charge under section 12, a person liable under section 11 for the same charge is only liable to pay the GIC on the unpaid amount of the charge if the Commissioner gives the person a notice of assessment in respect of the charge.

(4) If a person has been given a notice under subsection (3), the person is liable to pay the GIC on the unpaid amount for each day in the period that:

(a) started at the beginning of the day specified in the notice as the day by which the 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 charge;

(ii) GIC on any of the charge.

(5) The amount of the GIC a person is liable to pay under this section is taken to be additional charge payable under this section.

(6) In this section:

charge includes additional charge under section 29.