Saving of provisions about general interest charge, failure to notify penalty or late reconciliation statement penalty
9 Saving of provisions about general interest charge, failure to notify penalty or late reconciliation statement penalty
If:
a provision or part of a provision that is repealed or amended by this Act provides for the payment of:
general interest charge, failure to notify penalty or late reconciliation statement penalty (all within the meaning of the Income Tax Assessment Act 1936); or
interest under the Taxation (Interest on Overpayments and Early Payments) Act 1983; and
in a particular case, the period in respect of which the charge, penalty or interest is payable (whether under the provision or under the Taxation Administration Act 1953) has not begun, or has begun but not ended, when the provision is repealed or amended;
then, despite the repeal or amendment, the provision or part continues to apply in the particular case until the end of the period.
This Act’s bill:Second reading speech
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