TAXATION ADMINISTRATION ACT 1953 (ARCHIVE)

PART IIA - THE GENERAL INTEREST CHARGE  

Division 3 - The late reconciliation statement penalty  

SECTION 8AAT (Archive)  

8AAT   FAILURE TO PAY THE PENALTY  
If any of the amount of penalty that a person is liable to pay remains unpaid after the day by which it is due to be paid, the person is liable to pay the general interest charge on the unpaid amount for each day in the period that:

(a) started at the beginning of the day by which the amount of the penalty was due to be paid; and

(b) finishes at the end of the last day on which, at the end of the day, any of the following remains unpaid:

(i) the penalty;

(ii) general interest charge on any of the penalty.

Note:

The general interest charge is worked out under Division 1 .