Document ID: chunk:federal_register_of_legislation:C2023C00409:section:21
Version: federal_register_of_legislation:C2023C00409
Segment Type: section
Provision Reference: s 21
Character Range: 70814–71798

21  Payment of the general interest charge if liability increased by an amendment of an assessment
 (1) If an amendment of an assessment increasing a person's liability to pay surcharge for a financial year is made, the person is liable to pay the general interest charge on the amount of the increase for each day in the period that:
 (a) started at the beginning of 15 June in the financial year; and
 (b) finishes at the end of the day before the amended assessment is made.
Note: The general interest charge is worked out under Part IIA of the Taxation Administration Act 1953.

Amendment of nil assessment
 (3) If:
 (a) the Commissioner has calculated that no surcharge is payable by a person on a member's surchargeable contributions for a financial year; and
 (b) the Commissioner afterwards makes an assessment of surcharge payable by the person on those contributions for the financial year;
the assessment referred to in paragraph (b) is taken to be an amended assessment.