205AAEPenalty interest rate

#### 205AAE Penalty interest rate (1) The penalty interest rate is: (a) 3% per year; or (b) if another percentage is determined in an instrument under subsection (2)—that percentage per year. (2) The Minister may, by legislative instrument, determine a percentage for the purposes of paragraph (1)(b). Part 2—Application, saving and transitional provisions 46 Application and transitional provisions—family assistance amendments (1) Paragraph 78(1)(a) of the A New Tax System (Family Assistance) (Administration) Act 1999, as amended by this Act, applies in relation to a notice given on or after the commencement of this item (whether the debt arose before, on or after that commencement). (2) If: (a) before the commencement of this item, the Secretary gave a person a notice under subsection 77(1) of the A New Tax System (Family Assistance) (Administration) Act 1999 in relation to a debt; and (b) the whole or a part of that debt is outstanding immediately before that commencement; then, on or after the commencement of this item, the Secretary must give the person another notice under subsection 77(1) of that Act, as amended by this Act, in relation to the debt. (3) Paragraph 78A(1)(b) of the A New Tax System (Family Assistance) (Administration) Act 1999, as amended by this Act, applies in relation to a failure that occurs on or after the commencement of this item (whether the arrangement was entered into before, on or after that commencement). (4) Paragraph 78A(4)(b) of the A New Tax System (Family Assistance) (Administration) Act 1999, as amended by this Act, applies in relation to a termination that occurs on or after the commencement of this item (whether the arrangement was entered into before, on or after that commencement). (5) Subsection 91(1B) of the A New Tax System (Family Assistance) (Administration) Act 1999, as amended by this Act, applies in relation to a requirement to make a payment on or after the commencement of this item (whether the arrangement was entered into before, on or after that commencement). 47 Application and transitional provisions—paid parental leave amendments (1) Paragraph 174(1)(a) of the Paid Parental Leave Act 2010, as amended by this Act, applies in relation to a notice given on or after the commencement of this item (whether the debt arose before, on or after that commencement). (2) If: (a) before the commencement of this item, the Secretary gave a person a notice under subsection 173(1) of the Paid Parental Leave Act 2010 in relation to a debt; and (b) the whole or a part of that debt is outstanding immediately before that commencement; then, on or after the commencement of this item, the Secretary must give the person another notice under subsection 173(1) of that Act, as amended by this Act, in relation to the debt. (3) Paragraph 175(1)(b) of the Paid Parental Leave Act 2010, as amended by this Act, applies in relation to a failure that occurs on or after the commencement of this item (whether the arrangement was entered into before, on or after that commencement). (4) Paragraph 175(4)(b) of the Paid Parental Leave Act 2010, as amended by this Act, applies in relation to a termination that occurs on or after the commencement of this item (whether the arrangement was entered into before, on or after that commencement). (5) Subsection 190(1A) of the Paid Parental Leave Act 2010, as amended by this Act, applies in relation to a requirement to make a payment on or after the commencement of this item (whether the arrangement was entered into before, on or after that commencement). 48 Application and transitional provisions—social security amendments (1) Paragraph 1229A(1)(a) of the Social Security Act 1991, as amended by this Act, applies in relation to a notice given on or after the commencement of this item (whether the debt arose before, on or after that commencement). (2) If: (a) before the commencement of this item, the Secretary gave a person a notice under subsection 1229(1) of the Social Security Act 1991 in relation to a debt; and (b) the whole or a part of that debt is outstanding immediately before that commencement; then, on or after the commencement of this item, the Secretary must give the person another notice under subsection 1229(1) of that Act, as amended by this Act, in relation to the debt. (3) Paragraph 1229B(1)(b) of the Social Security Act 1991, as amended by this Act, applies in relation to a failure that occurs on or after the commencement of this item (whether the arrangement was entered into before, on or after that commencement). (4) Paragraph 1229B(4)(b) of the Social Security Act 1991, as amended by this Act, applies in relation to a termination that occurs on or after the commencement of this item (whether the arrangement was entered into before, on or after that commencement). (5) Subsection 1234(1A) of the Social Security Act 1991, as amended by this Act, applies in relation to a requirement to make a payment on or after the commencement of this item (whether the arrangement was entered into before, on or after that commencement). 49 Application, saving and transitional provisions—student assistance amendments (1) Sections 40 to 41G of the Student Assistance Act 1973, as amended by this Act, apply in relation to: (a) a relevant debt that arises on or after the commencement of this item; and (b) a relevant debt that arose before the commencement of this item, to the extent that the debt was outstanding immediately before that commencement. (2) The repeal of section 39A of the Student Assistance Act 1973 made by this Schedule does not affect the validity of a decision under subsection 39A(1) of that Act before the commencement of this item. (3) A decision made under subsection 39A(1) of the Student Assistance Act 1973 before the commencement of this item in relation to a person and a debt does not prevent the application of the provisions of Division 2 of Part 6 of that Act, as amended by this Act, on and after that commencement in relation to the person and the debt. Schedule 13—Debt recovery Part 1—Departure prohibition orders A New Tax System (Family Assistance) Act 1999 1 Subsection 3(1) (at the end of the definition of Australia) Add: > Note: In Division 5 of Part 4 of the Family Assistance Administration Act (about departure prohibition orders), Australia has an extended meaning. A New Tax System (Family Assistance) (Administration) Act 1999 2 Subsection 3(1) Insert: > departure authorisation certificate means a certificate under Subdivision D of Division 5 of Part 4. > departure prohibition order means an order under Subdivision A of Division 5 of Part 4 (including such an order varied under Subdivision C of that Division). 3 At the end of Part 4 Add: