Taxation Administration Act 1953

PART IIB - RUNNING BALANCE ACCOUNTS, APPLICATION OF PAYMENTS AND CREDITS, AND RELATED MATTERS  

Division 1 - Preliminary  

SECTION 8AAZA  

8AAZA   DEFINITIONS  


In this Part, unless the contrary intention appears:

company
includes any body or association (whether or not it is incorporated), but does not include a partnership or a non-entity joint venture.

compulsory AASL repayment amount
has the same meaning as in the Australian Apprenticeship Support Loans Act 2014 .

compulsory ABSTUDY SSL repayment amount
has the same meaning as in the Student Assistance Act 1973 .

compulsory repayment amount
has the same meaning as in the Higher Education Support Act 2003 .

compulsory SSL repayment amount
has the same meaning as in Chapter 2AA of the Social Security Act 1991 .

compulsory TSL repayment amount
(Repealed by No 61 of 2023)

compulsory VETSL repayment amount
has the same meaning as in the VET Student Loans Act 2016 .

credit
includes:


(a) an amount that the Commissioner must pay to a taxpayer under a taxation law, whether or not described as a credit, other than the following amounts:


(i) an amount paid under the Product Grants and Benefits Administration Act 2000 ;

(ii) an amount paid under Division 18 (refunds) of the A New Tax System (Luxury Car Tax) Act 1999 ;

(iii) an amount paid under the Coronavirus Economic Response Package (Payments and Benefits) Act 2020 to an entity, unless a determination of the Commissioner under section 8AAZAA specifies that the amount is a credit for the purposes of this subparagraph; and


(b) an amount received by the Commissioner in respect of a taxpayer as a result of the Commissioner having made a claim that is similar in nature to a foreign revenue claim (as defined in section 263-10 in Schedule 1 ).

deficit
(Repealed by No 178 of 1999)

entity
means any of the following:


(a) a company;


(b) a partnership;


(c) a person in a particular capacity of trustee;


(d) a body politic;


(e) a corporation sole;


(f) any other person.

excess non-RBA credit
means a credit that arises under section 8AAZLA or 8AAZLB .

FS assessment debt
means an FS assessment debt under:


(a) subsection 19AB(2) of the Social Security Act 1991 ; or


(b) the Student Assistance Act 1973 as in force at a time on or after 1 July 1998.

HEC assessment debt
(Repealed by No 56 of 2010)

non-entity joint venture
has the meaning given by subsection 995-1(1) of the Income Tax Assessment Act 1997 .

non-RBA tax debt
means a tax debt other than an RBA deficit debt.

primary tax debt
means any amount due to the Commonwealth directly under a taxation law (other than, except in Division 4, the Product Grants and Benefits Administration Act 2000 ), including any such amount that is not yet payable.

RBA
means a running balance account established under section 8AAZC .

RBA class
(Repealed by No 178 of 1999)

RBA deficit
(Repealed by No 178 of 1999)

RBA deficit debt
, in relation to an RBA of an entity, means a balance in favour of the Commissioner, based on:


(a) primary tax debts that have been allocated to the RBA and that are currently payable; and


(b) payments made in respect of current or anticipated primary tax debts of the entity, and credits to which the entity is entitled under a taxation law, that have been allocated to the RBA.

RBA group
means a GST group under Division 48 of the A New Tax System (Goods and Services Tax) Act 1999 .

RBA statement
means a statement prepared by the Commissioner under section 8AAZG .

RBA surplus
, in relation to an RBA of an entity, means a balance in favour of the entity, based on:


(a) primary tax debts that have been allocated to the RBA; and


(b) payments made in respect of current or anticipated primary tax debts of the entity, and credits to which the entity is entitled under a taxation law, that have been allocated to the RBA.

secondary tax debt
means an amount that is not a primary tax debt, but is due to the Commonwealth in connection with a primary tax debt.

Note:

An example of a secondary tax debt is an amount due to the Commonwealth under an order of a court made in a proceeding for recovery of a primary tax debt.

special priority credit
(Repealed by No 178 of 1999)

tax debt
means a primary tax debt or a secondary tax debt.

tax debtor
means:


(a) in relation to a tax debt - the person or persons who are liable for the tax debt; and


(b) in relation to an RBA - the person or persons who are liable for the tax debts that are allocated to the RBA.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.