Tax Laws Amendment (Improvements to Self Assessment) Act (No. 1) 2005 (75 of 2005)

Schedule 1   Shortfall interest charge

Part 2   Consequential amendments

Income Tax Assessment Act 1936

4   Paragraph 172(1)(a)

Repeal the paragraph, substitute:

(a) the amount by which the tax is so reduced is taken never to have been payable for the purposes of:

(i) provisions of this Act that apply the general interest charge; and

(ii) Division 280 in Schedule 1 to the Taxation Administration Act 1953 (which applies the shortfall interest charge); and