Document ID: chunk:federal_register_of_legislation:C2004A00825:clause:1_9
Version: federal_register_of_legislation:C2004A00825
Segment Type: clause
Provision Reference: sch 1 cl 9
Character Range: 3608–4744

9  Paragraphs 4(3)(a) and (b)
Repeal the paragraphs, substitute:
 (a) if the person's surcharge debt account was in debit when the allowance became payable to the person—a rate equal to 85% of the basic rate or the prescribed percentage of the basic rate at the relevant time, whichever is higher; or
 (b) if the person's surcharge debt account was not in debit when the allowance became payable to the person, whichever of the following rates is applicable:
 (i) if a notice of assessment in respect of the person has been given before the relevant time—a rate equal to 85% of the basic rate or the prescribed percentage of the basic rate at that time, whichever is higher;
 (ii) if a notice of assessment in respect of the person has not been given before the relevant time, and subsection (3AA) does not apply to the person at that time—a rate equal to 85% of the basic rate at that time;
 (iii) if a notice of assessment in respect of the person has not been given before the relevant time, and subsection (3AA) applies to the person at that time—the basic rate at that time.

Note: For prescribed percentage, see subsection (3B).