Commonwealth Consolidated Acts Commonwealth Consolidated ActsIf * excess non - concessional contributions tax or * shortfall interest charge payable by a person remains unpaid after the time by which it is due and payable, the person is 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 excess non - concessional contributions tax or shortfall interest charge was due to be paid; and
(b) ends at the end of the last day on which, at the end of the day, any of the following remains unpaid:
(i) the excess non - concessional contributions tax or shortfall interest charge;
(ii) general interest charge on any of the excess non - concessional contributions tax or shortfall interest charge.
Note: The general interest charge is worked out under Part IIA
of the Taxation Administration Act 1953 .