Taxation Administration Act 1953

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

Division 3 - Treatment of payments, credits and RBA surpluses  

SECTION 8AAZLD  

8AAZLD   SPECIAL PRIORITY CREDITS  


If, under this Division, the Commissioner is to apply a credit that arises under Schedule 1 to this Act (the PAYG system), the Commissioner must apply it, whether under section 8AAZLA or 8AAZLB :


(a) (Repealed by No 56 of 2010)

(aa)    

first, against any compulsory repayment amount of the entity; and

(aaa)    

then against any compulsory VETSL repayment amount of the entity; and

(ab)    

then against any compulsory SSL repayment amount of the entity; and

(ac)    

then against any compulsory ABSTUDY SSL repayment amount of the entity; and

(ad)    

then against any compulsory AASL repayment amount of the entity; and

(b)    then against any FS assessment debt of the entity;

before applying it against other non-RBA tax debts of the entity.




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