{"id":"C2004A03288","name":"Taxation (Interest on Underpayments) Act 1986","slug":"taxation-interest-on-underpayments-act-1986","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"47 of 1986","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":7173,"registerId":"commonwealth-C2004A03288-current","compilationNumber":null,"startDate":"2026-03-30","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Taxation (Interest on Underpayments) Act 1986","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 20.2\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n![opc_1.jpg](image.001.jpeg)\n\nTaxation (Interest on Underpayments) Act 1986\n\nNo. 47 of 1986\n\n \n\nAn Act to impose an interest charge in respect of underpayments of income tax\n\n[Assented to 24 June 1986]\n\nBE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:\n\nShort title\n\n1. This Act may be cited as the Taxation (Interest on Underpayments) Act 1986.\n\nCommencement\n\n2. This Act shall come into operation on the day on which it receives the Royal Assent.\n\nImposition of interest charge\n\n3. Interest that is payable in accordance with section 170aa of the Income Tax Assessment Act 1936 is imposed by this Act.\n\n \n\n[Minister’s second reading speech made in—\n\nHouse of Representatives on 17 April 1986\n\nSenate on 27 May 1986]\n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1618},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"The Act maintains its original narrow, technical purpose of imposing interest on underpaid income tax as calculated under the Income Tax Assessment Act 1936. It functions purely as constitutional machinery and has not expanded beyond this single function."},"complexity_factors":["Only 3 sections total","Single substantive provision (section 3) containing one sentence","No defined terms or interpretation sections","Simple cross-reference to external legislation without conditions, exceptions, or calculations"],"plain_english_summary":"This short Act legally authorises the Australian Taxation Office to charge interest on underpaid income tax by giving effect to the interest calculation in section 170aa of the Income Tax Assessment Act 1936. It affects any individual or business that pays less than the full tax owed and matters because it preserves the ATO’s power to deter late or incorrect payments."}},"importantCases":[],"_links":{"self":"/api/acts/taxation-interest-on-underpayments-act-1986","history":"/api/acts/taxation-interest-on-underpayments-act-1986/history","analysis":"/api/acts/taxation-interest-on-underpayments-act-1986/analysis","conflicts":"/api/acts/taxation-interest-on-underpayments-act-1986/conflicts","importantCases":"/api/acts/taxation-interest-on-underpayments-act-1986/important-cases","documents":"/api/acts/taxation-interest-on-underpayments-act-1986/documents"}}