TAXATION (INTEREST ON OVERPAYMENTS AND EARLY PAYMENTS) ACT 1983

PART IIIAA - DELAYED REFUND INTEREST ON RUNNING BALANCE ACCOUNT (RBA) SURPLUSES  

SECTION 12AF   12AF   DEFINITIONS  


In this Part:

BAS amount
has the same meaning as in subsection 995-1(1) of the Tax Act.

petroleum resource rent tax amount
has the same meaning as in subsection 995-1(1) of the Tax Act.

RBA interest day
for an RBA surplus means the 14th day after the latest of the following days:


(a) either:


(i) if section 12AA applies - the day on which the surplus arises; or

(ii) if section 12AB or 12AC applies - the day on which the relevant request is made;


(b) if, by the day applicable under paragraph (a), the person has not given the Commissioner a notification that:


(i) is required for the refund under section 8AAZLG or 8AAZLGB (as the case requires) of the Taxation Administration Act 1953 ; and

(ii) that is accurate so far as it relates to the refund;
the day on which that notification is given to the Commissioner;


(c) unless the Commissioner has given a direction under subsection 8AAZLH(3) of the Taxation Administration Act 1953 - the day on which the person nominates a financial institution account for the purposes of that section.

RBA surplus
has the same meaning as in section 8AAZA .

resource rent tax amount
(Repealed by No 96 of 2014)




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