Section 102UP — Income Tax Assessment Act 1936: Late payment of trustee beneficiary non-disclosure tax

If any of the trustee beneficiary non-disclosure tax which a person is liable to pay remains unpaid 60 days after the day by which it is due to be paid, the person is liable to pay the general interest charge on the unpaid amount for each day in the period that: (a) started at the beginning of the 60th day after the day by which the trustee beneficiary non-disclosure tax 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 trustee beneficiary non-disclosure tax; (ii) general interest charge on any of the trustee beneficiary non-disclosure tax. Note: The general interest charge is worked out under Part IIA of the Taxation Administration Act 1953.