Treasury Laws Amendment (2018 Measures No. 1) Act 2018 (23 of 2018)

Schedule 5   Payment of GST on taxable supplies of certain real property

Part 1   Main amendments

Taxation Administration Act 1953

4   At the end of Subdivision 18-B in Schedule 1

Add:

18-85 Refund by Commissioner of amount withheld from payment in respect of taxable supply of real property

(1) An entity (the recipient ) may apply, in the *approved form, to the Commissioner for the refund of an amount if:

(a) another entity (the payer ) has made a payment under section 14-250, or purportedly under that section, in relation to a *taxable supply by the recipient; and

(b) the payment, or part of the payment, was made in error.

(2) The application must be made no later than 14 days before the day on which *GST is payable on the supply.

(3) The amount of the refund that the recipient may apply for is an amount equal to the amount of the payment, or the part of the payment that was made in error, as the case requires.

(4) The Commissioner must refund the amount under subsection (3) if the Commissioner is satisfied that paragraphs (1)(a) and (b) apply and that it would be fair and reasonable to refund the amount, having regard to:

(a) the circumstances that gave rise to the obligation (if any) to make the payment under section 14-250; and

(b) the nature of the error; and

(c) any other matter the Commissioner considers relevant.