Section 115N — Paid Parental Leave Act 2010: Interest amount if underpaid amount due to administrative error

(1) This section applies if: (a) the Commissioner makes a determination under section 115K that an underpaid amount is to be paid for a person for an income year; and (b) the determination is made on the basis that a particular amount is the correct amount of the PPL superannuation contribution payable for the person for the income year; and (c) the determination is necessary to correct an administrative error. (2) The payment shortfall is the difference between: (a) the amount referred to in paragraph (1)(b); and (b) the sum of the amounts that have already been paid by way of a PPL superannuation contribution for the person for the income year before the determination under section 115K is made. (3) The amount of the PPL superannuation contribution for the person for the income year is increased by the amount of interest worked out under subsection (4). (4) The interest is to be calculated: (a) on the amount of the payment shortfall; and (b) for the period from the payment date for the PPL superannuation contribution until the payment date for the underpaid amount; and (c) on a daily basis; and (d) at the base interest rate for the day on which the interest is calculated. (5) The PPL rules: (a) may provide that an error of a kind specified in the PPL rules is an administrative error for the purposes of this section; and (b) may provide that an error of a kind specified in the PPL rules is not an administrative error for the purposes of this section.