57
CurrentApplication of payments for unpaid tax interest
Part 5Interest and penalty tax
Division 1Interest payable to commissioner and penalty tax
Subdivision 1Interest
57 Application of payments for unpaid tax interest
(1)
The order of application of a payment under section 42 applies to determine the amount of unpaid primary tax on which unpaid tax interest accrues.
(2)
For a reassessment, subsection (1) applies as if there had been no previous application of payments.
This Act’s bill:Explanatory memorandum
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