Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_6:p11
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 6 (pt 11/17)
Character Range: 1278740–1281543

the day on which the Commissioner gave the Group Entity notice of the amended assessment.
 (3) However, if an amended assessment reinstates all or part of a liability in relation to a particular that had been reduced by an earlier amended assessment, the period for the reinstated liability begins at the start of the day on which such tax under the earlier amended assessment was due to be paid, or would have been due to be paid if there had been any.
Note: See section 127‑70 for when the amount of such tax and shortfall interest charge becomes due and payable. That section also provides for general interest charge on any part of the additional amount (plus any shortfall interest charge) that remains unpaid after the additional amount is due and payable.

Joint Ventures
 (4) A reference in this section to a *Group Entity is taken to include a reference to a *GloBE Joint Venture or *GloBE JV Subsidiary that, under the *Minimum Tax Rules, is treated as a *Constituent Entity of a separate *Applicable MNE Group for a *Fiscal Year for the purposes of computing its *Australian GloBE tax for the Fiscal Year.

280‑103  Liability to shortfall interest charge—general
 (1) Your liability to pay *shortfall interest charge exists whether or not you are liable to any penalty under this Act.
 (2) Neither the Commonwealth nor an authority of the Commonwealth is liable to pay *shortfall interest charge.

280‑105  Amount of shortfall interest charge
 (1) The *shortfall interest charge for a day is worked out by multiplying the rate worked out under subsection (2) for that day by the sum of these amounts:
 (a) the additional amount of income tax, *excess exploration credit tax, *petroleum resource rent tax, *excess non‑concessional contributions tax or *Division 293 tax,; and
 (b) the shortfall interest charge on that amount from previous days.
 (2) The rate is:

280‑110  Notification by Commissioner
 (1) The Commissioner must give you a notice stating the amount of the *shortfall interest charge you are liable to pay for the period applicable under section 280‑100, 280‑101, 280‑102, 280‑102A, 280‑102B, 280‑102D or 280‑102E.
 (3) A notice given by the Commissioner under this section is prima facie evidence of the matters stated in the notice.

Subdivision 280‑C—Remitting shortfall interest charge

Table of sections
280‑160 Remitting shortfall interest charge
280‑165 Commissioner must give reasons for not remitting in certain cases
280‑170 Objecting against remission decision

280‑160  Remitting shortfall interest charge
 (1) The Commissioner may remit all or a part of an amount of *shortfall interest charge you are liable to pay if the Commissioner considers it fair and reasonable to do so.
 (2) Without limiting subsection (1), in deciding whether to remit, the Commissioner