A New Tax System (Family Assistance) (Administration) Act 1999

PART 4 - OVERPAYMENTS AND DEBT RECOVERY  

Division 2 - Amounts recoverable under this Act  

SECTION 78B   Other rules for interest charge  

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When interest charge is due and payable

78B(1)    
The interest charge under section 78 or 78A for a day is due and payable to the Commonwealth at the end of that day.

Interest charge is a debt

78B(2)    
The interest charge under section 78 or 78A for a day is a debt due to the Commonwealth by the person.

Provisions that do not apply to interest charge debt

78B(3)    
Subsection 77(1) does not apply in relation to the debt referred to in subsection (2) of this section.

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History

S 78B substituted by No 55 of 2016, s 3 and Sch 12 item 3, effective 1 January 2017. S 78B formerly read:

SECTION 78B ADMINISTRATIVE CHARGE  
78B(1)
When a person first becomes liable to pay interest under section 78 in respect of the outstanding amount of a particular debt, the person is liable to pay an administrative charge of $50 in respect of the outstanding amount of that debt.

78B(2)
An administrative charge payable by a person is a debt due to the Commonwealth.

S 77, 78, 78A and 78B substituted for s 77 and 78 by No 47 of 2001, s 3 and Sch 3 item 3, effective 1 July 2001. For application provisions, see note under s 77.

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