Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-10 - CAPITAL ALLOWANCES: RULES ABOUT DEDUCTIBILITY OF CAPITAL EXPENDITURE  

Division 44 - Build to rent development misuse tax  

Subdivision 44-C - When tax is payable  

SECTION 44-50  

44-50   General interest charge  

If an amount of *assessed build to rent development misuse tax that you are liable to pay remains unpaid after the time by which it is due to be paid, 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 amount 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 assessed build to rent development misuse tax;

(ii) general interest charge on any of the assessed build to rent development misuse tax.

Note:

The general interest charge is worked out under Part IIA of the Taxation Administration Act 1953 .