Commonwealth Consolidated Acts

FRINGE BENEFITS TAX ASSESSMENT ACT 1986 - SECT 93

             (1)  If any of the tax, or the additional tax under Part VIII, which a person is liable to pay remains unpaid after the time by which the tax or the additional tax is due to be paid, the person is liable to pay the general interest charge on the unpaid amount for each day in the period that:

                     (a)  started at the beginning of the day by which the tax or the additional tax was due to be paid; and

                     (b)  finishes at the end of the last day on which, at the end of the day, any of the following remains unpaid:

                              (i)  the tax or the additional tax;

                             (ii)  general interest charge on any of the tax or the additional tax.

             (2)  The amount of the general interest charge is taken to be additional tax payable under this section.

Note:          The general interest charge is worked out under Part IIA of the Taxation Administration Act 1953 .