Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 345.115

                   If * FHSA misuse tax payable by a person remains unpaid after the time by which it is due and payable, the person is liable to pay the * general interest charge on the unpaid amount for each day in the period that:

                     (a)  starts at the beginning of the day on which the FHSA misuse tax was due to be paid; and

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

                              (i)  the FHSA misuse tax;

                             (ii)  general interest charge on any of the FHSA misuse tax.

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

Table of Subdivisions

             Guide to Division 355

355-A   Object

355-B    Meaning of R&D activities and other terms

355-C    Entitlement to tax offset

355-D   Notional deductions for R&D expenditure

355-E    Notional deductions for decline in value of depreciating assets used for R&D activities

355-F    Integrity Rules

355-G   Clawback of R&D recoupments

355-H   Feedstock adjustments

355-I     Application to earlier income year R&D expenditure incurred to associates

355-J     Application to R&D partnerships

355-K   Application to Cooperative Research Centres

355-W   Other matters

Guide to Division 355