Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 2 - Collection, recovery and administration of income tax  

PART 2-5 - PAY AS YOU GO (PAYG) WITHHOLDING  

Division 18 - Recipient ' s entitlements and obligations  

Subdivision 18-D - Directors etc. of non-complying companies  

Credits for later compliance

SECTION 18-175   CREDITS FOR LATER COMPLIANCE - COMMISSIONER MAY GIVE NOTICE  

Commissioner may give notice to director or associate

18-175(1)  
The Commissioner may give a written notice to the individual on a particular day (the credit notice day ).

Note:

Subsection 18-180(2) provides that the Commissioner must not give a notice to the individual in certain circumstances.

Director or associate entitled to credit if Commissioner gives notice

18-175(2)  
The individual is entitled to a credit if the Commissioner gives a written notice to the individual under subsection (1).

18-175(3)  
The individual becomes entitled to the credit on the day the Commissioner gives the notice to the individual. Amount of credit

18-175(4)  
The amount of the credit is the amount stated in the notice.

18-175(5)  
The amount stated:


(a) must not exceed the amount of the * PAYG withholding non-compliance tax; and

Note:

In working out the amount of the tax for the purposes of paragraph (5)(a), have regard to other credits to which the individual is entitled under section 18-170 or this section. See subsection 18-180(1) .


(b) must not exceed the amount of the discharge mentioned in paragraph 18-165(c) . Commissioner ' s discretion

18-175(6)  
In determining:


(a) whether to give a notice under this section; or


(b) the amount to state in the notice;

the Commissioner must have regard to what is fair and reasonable in the circumstances.




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