Document ID: chunk:federal_register_of_legislation:C2014C00464:clause:5_54
Version: federal_register_of_legislation:C2014C00464
Segment Type: clause
Provision Reference: sch 5 cl 54
Character Range: 110966–111706

54  Transitional—section 40 of the Taxation Administration Act 1953
(1) This item applies if, immediately before the commencement of this item, a person is liable, under section 40 of the Taxation Administration Act 1953, to pay the general interest charge on an unpaid amount (the liability) of any indirect tax.
(2) On the commencement of this item, that section ceases to apply to the liability.
(3) From the commencement of this item, section 105‑80 in Schedule 1 to that Act applies to the liability as if:
 (a) the liability remains unpaid at that time; and
 (b) so much of the charge under section 40 of that Act as remains unpaid at that time had been imposed under section 105‑80 in that Schedule and remains unpaid at that time.