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General Interest Charge (Imposition) Bill 1998

1998

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

 

 

 

 

 

General Interest Charge (Imposition) Bill 1998

 

No.      , 1998

 

(Treasury)

 

 

 

A Bill for an Act to impose general interest charge as a tax in some circumstances

   

   

   



Contents

1............ Short title............................................................................................ 1

2............ Commencement.................................................................................. 1

3............ Imposition.......................................................................................... 2

 



A Bill for an Act to impose general interest charge as a tax in some circumstances

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the General Interest Charge (Imposition) Act 1998 .

2   Commencement

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

3   Imposition

             (1)  General 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)  In this section:

general interest charge means the charge worked out under Division 1 of Part IIA of the Taxation Administration Act 1953 .