Document ID: chunk:federal_register_of_legislation:C2024C00582:section:115q
Version: federal_register_of_legislation:C2024C00582
Segment Type: section
Provision Reference: s 115Q
Character Range: 212698–214204

115Q  When general interest charge payable
 (1A) If:
 (a) a person is liable under subsection 115G(1) or 115L(1) to repay an amount; and
 (b) the whole or a part of the amount remains unpaid after the time by which the amount is due to be paid;
the person is liable to pay general interest charge on the unpaid amount.
 (1) If:
 (a) the Commissioner gives a person notice under item 3 or 4 of the table in subsection 115P(3); and
 (b) an amount that the person must pay under the notice remains unpaid after the time by which it is due to be paid;
the person is liable to pay general interest charge on the unpaid amount.
 (2) A person who is liable under this section to pay general interest charge on an unpaid amount is liable to pay the charge for each day in the period that:
 (a) started at the beginning of the day by which the unpaid amount was due to be paid; and
 (b) finishes at the end of the last day at the end of which any of the following remains unpaid:
 (i) the unpaid amount;
 (ii) general interest charge on any of the unpaid amount.
 (3) For the purposes of this section:
 (a) an amount that a person becomes liable under subsection 115G(1) or 115L(1) to repay is due to be paid 7 days after the day on which the person first becomes liable to repay the amount; and
 (b) an amount payable under a notice given under item 3 or 4 of the table in subsection 115P(3) is due to be paid 28 days after the day on which the notice is given.

Part 3—Enforcement

Division 1—Guide to this Part