Document ID: chunk:federal_register_of_legislation:C2021C00522:clause:12_78a:p2
Version: federal_register_of_legislation:C2021C00522
Segment Type: clause
Provision Reference: sch 12 cl 78A (pt 2/2)
Character Range: 105919–106941

Note: For exemptions, see sections 78D and 78E.
 (5) The period starts at the beginning of the day after that 14th day and ends at the end of the earlier of the following days:
 (a) the last day at the end of which any of the following remains unpaid:
 (i) the outstanding amount of the debt;
 (ii) interest charge on any of the outstanding amount of the debt;
 (b) the day before the first day, after that 14th day, on which the person makes a payment under another arrangement under section 91 in relation to the debt.
 (6) The interest charge for a day in the period described in subsection (5) is worked out by multiplying the interest charge rate for that day by the sum of so much of the following amounts as remains unpaid:
 (a) the outstanding amount of the debt;
 (b) the interest charge from previous days.
Note 1: For interest charge rate see section 78C.
Note 2: The interest charge for a day is due and payable to the Commonwealth at the end of that day and is a debt due to the Commonwealth: see section 78B.