What is a RBA surplus or credit?
Section 8AAZLGA applies to a running balance account (RBA) surplus or credit.
A RBA surplus means a balance in your favour based on primary tax debts that have been allocated to your RBA and payments made for your current or anticipated primary tax debts and credits to which you are entitled to under a tax law that have been allocated to your RBA. A RBA surplus occurs when you are entitled to the credit, not when the credit is actually posted to your account.
A credit includes an amount that we must pay you under a tax law. For example, in relation to GST, if the net amount disclosed in your activity statement is a negative net amount (that is, the sum of the input tax credits claimed exceeds the sum of the GST payable on taxable supplies attributed to a tax period), you are entitled to be paid a refund of that amount.