s 22
In forcePayment of general interest charge if surcharge payable under a further assessment
Part 3Assessment and collection of surcharge and advance instalments
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 interest 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.
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