Australian Capital Territory
Taxation Administration (Amounts Payable - Interest) Determination 2007 (No 1)
Disallowable instrument DI2007–247
made under the  
Taxation Administration Act 1999, s 139 (Determination of amounts payable under tax laws)

1	Name of instrument
This instrument, the first instrument for the purpose of duty deferral arrangements, is the Taxation Administration (Amounts Payable- Interest) Determination 2007 (No1).
2	Commencement 
This instrument commences on 26 October 2007.
3	Determination of interest rate on a duty deferral arrangement.
For the Duties Act 1999, section 75AD (2), interest is charged at the market rate component as defined in the Taxation Administration Act 1999, section 26 (2).
4	Determination of method for calculation of interest on a duty deferral arrangement.
		Interest on an amount payable under a duty deferral arrangement is calculated—
	(a)	for each calendar month when the amount remains unpaid; and
	(b)	on the 1st day of that month; and
(c)	at the interest rate applying to that day; and
(d)	on the total amount of duty deferred that remains unpaid on the day when the interest is worked out.

Jon Stanhope
Treasurer
25 October 2007