Taxation Administration Act 1953


Division 2 - Running Balance Accounts (or RBAs)  


8AAZC(1)   [System of accounts]  

The Commissioner may establish one or more systems of accounts for primary tax debts.


This section does not prevent the Commissioner from establishing other accounts that are not RBAs.

8AAZC(2)   [RBA]  

Each account is to be known as a Running Balance Account (or RBA).

8AAZC(3)   [Any entity]  

An RBA may be established for any entity.


The same person might be part of different entities . For example, a person might have a trustee capacity and also be a partner in a partnership. The person would then be a tax debtor in relation to each of the separate RBAs established for the trustee capacity and the partnership.

8AAZC(4)   [Basis for establishing RBA]  

RBAs for entities may be established on any basis that the Commissioner determines.

8AAZC(4A)   [Separate RBAs]  

Without limiting subsection (4), separate RBAs may be established for different types of primary tax debts.

8AAZC(5)   [Some bases]  

Without limiting subsection (4), separate RBAs may be established for:

(a) different businesses or undertakings conducted by the same entity; or

(b) different parts of the same business or undertaking; or

(c) different periods.


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