Taxation Laws Amendment Act (No. 4) 1994 (181 of 1994)

Schedule 5   AMENDMENTS RELATING TO THE PAYMENT OF INTEREST ON OVERPAYMENTS AND EARLY PAYMENTS

Part 2   TAXATION (INTEREST ON OVERPAYMENTS) ACT 1983

13   After subsection 9(1)

Insert:

"(1A) If:

(a) apart from this subsection, subsection (1) would apply to an overpayment; and

(b) the decision to which this Act applies mentioned in that subsection was made wholly or partly to provide correlative relief in respect of the taxing of an amount under a law of a foreign country; and

(c) either:

(i) the law of the foreign country did not require the payment of late payment interest in respect of the amount; or

(ii) the law of the foreign country did require the payment of late payment interest but the payment had not been made by the time the decision to which this Act applies was made;

subsection (1) does not apply to the overpayment to the extent to which it is attributable to the provision of the correlative relief.".