Taxation (Interest on Underpayments) Act 1986 (Cth)

Text C2004C07395

TAXATION (INTEREST ON UNDERPAYMENTS) ACT 1986 #DATE 1:9:1993 #DATE 1:9:1993 - Updated as at 1 September 1993 *1* The Taxation (Interest on Underpayments) Act 1986 as shown in this reprint comprises Act No. 47, 1986 amended as indicated in the Tables below: Table of Acts Act Date Date of Application Number and of assent commencement saving or year transitional provisions Taxation (Interest on Underpayments) Act 1986 47, 1986 24 June 1986 24 June 1986 Taxation Laws Amendment (Self Assessment) Act 1992 101, 1992 30 June 1992 30 June 1992 - Table of Amendments ad=added or inserted am=amended rep=repealed rs=repealed and substituted Provision affected How affected S. 3 am. No. 101, 1992 TAXATION (INTEREST ON UNDERPAYMENTS) ACT 1986 - TABLE OF PROVISIONS TABLE TABLE OF PROVISIONS Section 1. Short title 2. Commencement 3. Imposition of interest charge TAXATION (INTEREST ON UNDERPAYMENTS) ACT 1986 - LONG TITLE SECT An Act to impose an interest charge in respect of underpayments of income tax TAXATION (INTEREST ON UNDERPAYMENTS) ACT 1986 - SECT 1 Short title SECT 1. This Act may be cited as the Taxation (Interest on Underpayments) Act 1986.*1* SEE NOTES TO FIRST ARTICLE OF THIS CHAPTER . TAXATION (INTEREST ON UNDERPAYMENTS) ACT 1986 - SECT 2 Commencement SECT 2. This Act shall come into operation on the day on which it receives the Royal Assent.*1* SEE NOTES TO FIRST ARTICLE OF THIS CHAPTER . TAXATION (INTEREST ON UNDERPAYMENTS) ACT 1986 - SECT 3 Imposition of interest charge SECT 3. (1) Interest that is payable in accordance with section 170AA of the Income Tax Assessment Act 1936 is imposed by this Act. (2) Subsection (1) does not apply to interest that is not a tax.