Tax Laws Amendment (2009 GST Administration Measures) Act 2010 (20 of 2010)

Schedule 5   Recovering overpaid refunds

A New Tax System (Goods and Services Tax) Act 1999

2   At the end of section 35-5 (after the notes)

Add:

(2) However, if the amount paid, or applied under the Taxation Administration Act 1953, exceeds the amount to which you are properly entitled under subsection (1), the excess is to be treated as if it were GST that became payable, and due for payment, by you at the time when the amount was paid or applied.

Note: The main effect of treating the amount as if it were GST is to apply the collection and recovery rules in Part 3-10 in Schedule 1 to the Taxation Administration Act 1953, such as a liability to pay the general interest charge under section 105-80 in that Schedule.