Taxation Administration Act 1953
PART IIB
-
RUNNING BALANCE ACCOUNTS, APPLICATION OF PAYMENTS AND CREDITS, AND RELATED MATTERS
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(a) (Repealed by No 56 of 2010)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 TSL repayment amount of the entity; and
(b) then against any FS assessment debt of the entity;
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(a) (Repealed by No 56 of 2010)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 TSL 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.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.