133-115
CurrentGeneral interest charge
Volume 2Schedule 1, Chapter 2, Part 2-10 to Chapter 4, Part 4-25 (sections 45-1 to 298-110)
Schedule 1Collection and recovery of income tax and other liabilities
Chapter 3Collection, recovery and administration of other taxes
Part 3-20Superannuation
Division 133Division 293 tax
Subdivision 133-CCompulsory payment
133-115 General interest charge
If your *debt account discharge liability remains unpaid after the time by which it is due and payable, you are liable to pay the *general interest charge on the unpaid amount for each day in the period that:
(a)
begins on the day on which the debt account discharge liability was due to be paid; and
(b)
ends on the last day on which, at the end of the day, any of the following remains unpaid:
(i)
the debt account discharge liability;
(ii)
general interest charge on any of the debt account discharge liability.
Note:
The general interest charge is worked out under Part IIA.
This Act’s bill:Second reading speech
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