Income Tax Assessment Act 1936

S 163AA repealed by No 8 of 2019, s 3 and Sch 8 item 32, effective 1 April 2019. S 163AA formerly read:

SECTION 163AA GENERAL INTEREST CHARGE ON UNPAID PENALTY  
163AA
A person who fails to pay some or all of a penalty under section 163A by the time by which the penalty is due to be paid 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 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 Part IIA of the Taxation Administration Act 1953 .

 View history note

 Hide history note

History

S 163AA amended by No 101 of 2006, s 3 and Sch 2 item 1026, by omitting the reference to a repealed inoperative division in the note, effective 14 September 2006. For application and savings provisions see the CCH Australian Income Tax Legislation archive.

S 163AA inserted by No 11 of 1999.