CHAPTER 3
-
Loan repayments
PART 3.2
-
DISCHARGING DEBTS
Division 4
-
Compulsory discharge
Subdivision AA
-
Liability of overseas debtors to repay amounts
History
Subdiv AA inserted by No 154 of 2015, s 3 and Sch 2 item 6, effective 1 January 2016 and applicable in relation to the 2016-17 income year and later income years.
SECTION 47C
NOTICES TO BE GIVEN TO THE COMMISSIONER
Notice relating to leaving Australia
47C(1)
A person who:
(a)
has an accumulated AASL debt or otherwise has an AASL debt that has not yet been discharged; and
(b)
leaves Australia (other than in circumstances specified in the rules) with the intention of remaining outside Australia for at least 183 days;
must, no later than 7 days after leaving Australia, give a notice to the Commissioner in the approved form.
History
S 47C(1) amended by No 61 of 2023, s 3 and Sch 1 items 106 and 107, by substituting
"
accumulated AASL
"
for
"
accumulated TSL
"
and
"
an AASL
"
for
"
a TSL
"
in para (a), effective 1 January 2024. For transitional provisions, see note under s
105(1)
.
S 47C(1) inserted by No 154 of 2015, s 3 and Sch 2 item 6, effective 1 January 2016 and applicable in relation to the 2016-17 income year and later income years. No 154 of 2015, s 3 and Sch 2 item 10 contains the following application provision:
10 Application of subsections 47C(1) and (2)
(1)
Subsections
47C(1)
and
(2)
of the
Trade Support Loans Act 2014
, as inserted by this Act, apply:
(a)
to persons who leave Australia after the commencement of this item; and
(b)
subject to subitem (2), to persons who, immediately before that commencement, were outside Australia.
(2)
If, immediately before the commencement of this item, a person was outside Australia, subsection
47C(2)
of the
Trade Support Loans Act 2014
, as inserted by this Act, applies in relation to that absence from Australia (but not in relation to any later absence starting after that commencement) as if:
(a)
the 183 days referred to in paragraph
47C(2)(b)
of that Act as so inserted were days occurring after that commencement; and
(b)
that subsection as so inserted required the person to notify the Commissioner no later than 1 July 2017.
Notice relating to absence from Australia
47C(2)
A person who:
(a)
has an accumulated AASL debt or otherwise has an AASL debt that has not yet been discharged; and
(b)
has been outside Australia for at least 183 days (other than in circumstances specified in the rules) in any 12 month period; and
(c)
was not required under subsection
(1)
to give a notice to the Commissioner in connection with that absence from Australia;
must, no later than 7 days after the end of those 183 days, give a notice to the Commissioner in the approved form.
History
S 47C(2) amended by No 61 of 2023, s 3 and Sch 1 items 108 and 109, by substituting
"
accumulated AASL
"
for
"
accumulated TSL
"
and
"
an AASL
"
for
"
a TSL
"
in para (a), effective 1 January 2024. For transitional provisions, see note under s
105(1)
.
S 47C(2) inserted by No 154 of 2015, s 3 and Sch 2 item 6, effective 1 January 2016 and applicable in relation to the 2016-17 income year and later income years. For application provision, see note under s
47C(1)
.
Notice relating to income (including foreign-sourced income)
47C(3)
A person who:
(a)
is a foreign resident; and
(b)
on 1 June immediately preceding an income year, had an accumulated AASL debt;
must (other than in circumstances specified in the rules) give to the Commissioner, in the approved form, a notice relating to the person
'
s income (including foreign-sourced income) for the income year. The notice must be given within the period specified in the form.
Note:
The Commissioner may defer the time for giving the return: see ection
388-55
in Schedule
1
to the
Taxation Administration Act 1953
.
History
S 47C(3) amended by No 61 of 2023, s 3 and Sch 1 item 110, by substituting
"
accumulated AASL
"
for
"
accumulated TSL
"
in para (b), effective 1 January 2024. For transitional provisions, see note under s
105(1)
.
Content of notices under this section
47C(4)
The rules may provide for the content of notices under this section.
History
S 47C inserted by No 154 of 2015, s 3 and Sch 2 item 6, effective 1 January 2016.
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