Australian Capital Territory
Taxation Administration (Amounts Payable—Interest Rates) Determination 2017 (No 1)
Disallowable instrument DI2017–146
made under the  
Taxation Administration Act 1999, s 139 (Determination of amounts payable under tax laws) and Duties Act 1999, s 75AD (2) (a) (Conditions of deferral arrangement)

1	Name of instrument
This instrument is the Taxation Administration (Amounts Payable—Interest Rates) Determination 2017 (No 1).
2	Commencement 
This instrument commences on 1 July 2017. 
3	Determination—rates, land tax and land rent interest rate
For the purposes of the following sections, I determine that the interest rate is the sum of the market rate component and the premium component under section 26 of the Act:
(a)		sections 21 and 22 of the Land Rent Act 2008;
(b)	sections 19 and 19A of the Land Tax Act 2004;
(c)	section 21 of the Rates Act 2004.
4	Determination—deferred duty interest rate
(1)	For the purposes of section 75AD (2) (a) of the Duties Act 1999, I determine that the rate of interest charged on the amount payable under a deferral arrangement is the market rate component under section 26 of the Act.
(2)	Interest charged on an amount payable under a deferral arrangement is worked out—
	(a)	for each day when the amount remains unpaid; and
(b)	at the interest rate under subsection (1) applying to each day; and
(c)	on the total amount of duty deferred that remains unpaid on each day.
(3)	In this section:
deferral arrangement—see the Duties Act 1999, section 75AC (2).
5	Revocations
This instrument revokes the following instruments:
(a)	Taxation Administration (Interest Payable - Land Rent) Determination 2012 (No 1) DI2012-176;
(b)	Taxation Administration (Amounts Payable—Interest) Determination 2015 (No 1) DI2015-3;
(c)	Taxation Administration (Amounts Payable—Rates and Land Tax Interest) Determination 2016 (No 1) DI2016-147.
6	Transitional provisions
(1)	DI2012-176 continues to apply for the period 1 July 2012 to 30 June 2017, inclusive.
(2)	DI2015-3 continues to apply for the period 26 October 2007 to 30 June 2017, inclusive.
(3)	DI2016-147 continues to apply for the period 1 July 2016 to 30 June 2017, inclusive.
Andrew Barr MLA
Treasurer
20 June 2017