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Taxation Administration Act 1997
39Penalty tax in respect of certain tax defaults
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39 Penalty tax in respect of certain tax defaults
(1) If a tax default occurs, the taxpayer is liable to pay penalty tax in addition to the amount of tax unpaid.
(2) Penalty tax is in addition to interest.
(3) Penalty tax is not payable in respect of a tax default that consists of a failure to pay –
(a) interest; or
(b) penalty tax previously imposed.