280-103
CurrentLiability to shortfall interest charge—general
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 4Generic assessment, collection and recovery rules
Part 4-25Charges and penalties
Division 280Shortfall interest charge
Subdivision 280-BShortfall interest charge
280-103 Liability to shortfall interest charge—general
(1)
Your liability to pay *shortfall interest charge exists whether or not you are liable to any penalty under this Act.
(2)
Neither the Commonwealth nor an authority of the Commonwealth is liable to pay *shortfall interest charge.
This Act’s bill:Second reading speech
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