Schedule 1, s 6
CurrentInterest
Schedule 1Savings, transitional and other provisions
6 Interest
(1)
If a tax default occurred before the commencement of Division 1 of Part 5, interest accrues in relation to that default from that commencement in accordance with that Division.
(2)
The Commissioner's power to remit interest extends to interest that accrued under a taxation law before the commencement of Division 1 of Part 5.
This Act’s bill:Second reading speech
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