Income Tax (Transitional Provisions) Act 1997
View history note
Hide history noteThis section applies if, just before the commencement of this section, you were liable, under subsection 204(3) (the old provision ) of the Income Tax Assessment Act 1936 , to pay the general interest charge on an unpaid amount (the liability ) of any tax or shortfall interest charge.
5-10(2)
On that commencement, the old provision ceases to apply to the liability.
5-10(3)
From that commencement, section 5-15 (the new provision ) of the Income Tax Assessment Act 1997 , as originally enacted, applies to the liability as if:
(a) the liability remained unpaid at that time; and
(b) so much of the charge under the old provision as remained unpaid at that time had been imposed under the new provision and remained unpaid at that time.
[
CCH Note:
No 51 of 2011, s 3 and Sch 2 item 4 contains the following provision:
4 Former subsection 204(3) of the
Income Tax Assessment Act 1936
]
4
For the purposes of applying, at a particular time, former subsection 204(3) of the
Income Tax Assessment Act 1936
in relation to any tax, it does not matter whether the tax had been assessed at that time.
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