16B
CurrentCertain liabilities to be reduced to nearest multiple of 5 cents
Volume 1Parts I to V (sections 1 to 18), Schedule 1, Chapter 2, Part 2-1 to Part 2-5 (sections 6-1 to 21-5)
Part VMiscellaneous
16B Certain liabilities to be reduced to nearest multiple of 5 cents
If the amount of a tax‑related liability that arises by way of penalty or because it is assessed by the Commissioner (other than an RBA deficit or a liability to pay the general interest charge) is not a multiple of 5 cents, the amount is decreased to the nearest multiple of 5 cents.
This Act’s bill:Second reading speech
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