5‑15 General interest charge payable on 5‑15 General interest charge payable on unpaid income tax or shortfall interest charge

#### 5‑15 General interest charge payable on unpaid income tax or shortfall interest charge If an amount of income tax or \*shortfall interest charge that you are liable to pay remains unpaid after the time by which it is due to be paid, you are liable to pay the \*general interest charge on the unpaid amount for each day in the period that: (a) starts at the beginning of the day on which the amount was due to be paid; and (b) finishes at the end of the last day on which, at the end of the day, any of the following remains unpaid: (i) the income tax or shortfall interest charge; (ii) general interest charge on any of the income tax or shortfall interest charge. > Note 1: The general interest charge is worked out under Part IIA of the Taxation Administration Act 1953. > Note 2: Shortfall interest charge is worked out under Division 280 in Schedule 1 to that Act.