Shortfall Interest Charge (Imposition) Act 2005 (Cth)

Shortfall Interest Charge (Imposition) Act 2005

No. 76, 2005

An Act to impose shortfall interest charge as a tax in some circumstances

Contents

Shortfall Interest Charge (Imposition) Act 2005

No. 76, 2005

An Act to impose shortfall interest charge as a tax in some circumstances

[Assented to 29 June 2005]

The Parliament of Australia enacts:

1Short title

This Act may be cited as the Shortfall Interest Charge (Imposition) Act 2005.

2Commencement

This Act commences on the day on which it receives the Royal Assent.

3Imposition

1. (1)

   Shortfall interest charge is imposed as a tax by this section, but only to the extent to which that charge cannot validly be imposed otherwise than as a tax.

2. (2)

   In this section:

   shortfall interest charge means the charge worked out under Division 280 in Schedule 1 to the Taxation Administration Act 1953.

[Minister’s second reading speech made in—

House of Representatives on 17 March 2005

Senate on 12 May 2005]

(46/05)