Tax Administration Act 1994

Interest - Specific provisions

120J: Purpose of specific provisions

You could also call this:

"What these tax rules are for"

Illustration for Tax Administration Act 1994

The purpose of sections 120K to 120V is to apply the general interest regime to specific taxes or tax regimes. You can find these sections at sections 120K to 120V. The rules in these sections only apply to the specific taxes they mention, unless another tax law says they apply to other parts of the Act. The specific rules in sections 120K to 120V do not apply to other parts of the Act. They only apply to the specific taxes they mention, unless another tax law says they apply to other parts. You need to look at each tax law to see if the rules in sections 120K to 120V apply to it.

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Part 7Interest
Specific provisions

120JPurpose of specific provisions

  1. The purpose of sections 120K to 120V is to allow the general interest regime contained in this Part to apply to the specific tax or tax regime referred to in those sections.

  2. The specific rules or applications specified in sections 120K to 120V do not apply to other Parts or sections of this Act, except where a tax law specifically provides that they do.

Notes
  • Section 120J: inserted, on , by section 36(1) of the Tax Administration Amendment Act (No 2) 1996 (1996 No 56).
  • Section 120J(1): amended (with effect on 1 April 1997), on , by section 82 of the Taxation (Remedial Provisions) Act 1997 (1997 No 74).
  • Section 120J(2): amended (with effect on 1 April 1997), on , by section 82 of the Taxation (Remedial Provisions) Act 1997 (1997 No 74).