Shortfall Interest Charge (Imposition) Act 2005

1 Short title

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

2 Commencement

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

3 Imposition

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.

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]