Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
PART 3-20
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SUPERANNUATION
Division 134
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Division 296 tax
Subdivision 134-B
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Division 296 debt account
Operative provisions
SECTION 134-70 VOLUNTARY PAYMENTS 134-70(1)
You may make payments to the Commissioner for the purpose of reducing the amount by which a * Division 296 debt account for a * superannuation interest is in debit.
134-70(2)
The Commissioner is to: (a) acknowledge receipt of the payment to you; and (b) credit the payment to the * Division 296 debt account; and (c) notify you of the revised balance of the Division 296 debt account.
134-70(3)
The amount of a * Division 296 deferral reversal for the * superannuation interest is to be treated as if it were a voluntary payment under this section in relation to the * Division 296 debt account for that interest. However, paragraphs (2)(a) and (c) do not apply in relation to that amount.
View history note
Hide history noteNote: See section 3AA .
Chapter 3 - Collection, recovery and administration of other taxesSECTION 134-70 VOLUNTARY PAYMENTS 134-70(1)
You may make payments to the Commissioner for the purpose of reducing the amount by which a * Division 296 debt account for a * superannuation interest is in debit.
134-70(2)
The Commissioner is to: (a) acknowledge receipt of the payment to you; and (b) credit the payment to the * Division 296 debt account; and (c) notify you of the revised balance of the Division 296 debt account.
The credit mentioned in paragraph (b) is to be made when the payment is received.
134-70(3)
The amount of a * Division 296 deferral reversal for the * superannuation interest is to be treated as if it were a voluntary payment under this section in relation to the * Division 296 debt account for that interest. However, paragraphs (2)(a) and (c) do not apply in relation to that amount.
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