Taxation Administration Act 1953
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View history noteSch 1 inserted by No 178 of 1999 (as amended by No 179 of 1999 and No 44 of 2000).
Note: See section 3AA .
Chapter 4 - Generic assessment, collection and recovery rulesCh 4 heading inserted by No 73 of 2006 , s 3 and Sch 5 item 42, effective 1 July 2006.
Pt 4-1 inserted by No 39 of 2012, s 3 and Sch 1 item 1, effective 1 July 2012.
No 39 of 2012, s 3 and Sch 1 item 239 contains the following application provision:
239 Application of amendments
(1)
The amendments made by Divisions 1, 2 and 3 of this Part apply in relation to payments and refunds that relate to tax periods, and fuel tax return periods, starting on or after 1 July 2012.
(2)
The amendments made by Divisions 1, 2 and 3 of this Part also apply in relation to payments and refunds that:
(a)
do not relate to any tax periods or fuel tax return periods; and
(b)
relate to liabilities or entitlements that arose on or after 1 July 2012.
Div 155 inserted by No 39 of 2012, s 3 and Sch 1 item 1, effective 1 July 2012. For application provision see note under Part 4-1 heading.
Subdiv 155-B inserted by No 39 of 2012, s 3 and Sch 1 item 1, effective 1 July 2012. For application provision see note under Part 4-1 heading.
SECTION 155-75 REFUNDS OF AMOUNTS OVERPAID 155-75(1)
This section applies if:
(a) an assessment of an * assessable amount of yours is amended; and
(b) as a result of the amendment, a * tax-related liability (the earlier liability ) of yours is reduced.
155-75(2)
For the purposes of any * taxation law that applies the * general interest charge, the amount by which the * tax-related liability is reduced is taken never to have been payable.
Note 1:
The general interest charge is worked out under Part IIA of this Act.
Note 2:
Subsection 8AAB(4) of this Act lists the provisions that apply the charge.
155-75(3)
The Commissioner must apply the amount of any * tax-related liability overpaid in accordance with Divisions 3 and 3A of Part IIB of this Act (about running balance accounts and the application of payments and credits).
155-75(4)
However, if:
(a) a later amendment of an assessment of an * assessable amount is made; and
(b) all or some of your earlier liability in relation to a particular is reinstated;
this section is taken not to have applied to the extent that the earlier liability is reinstated.
S 155-75 inserted by No 39 of 2012, s 3 and Sch 1 item 1, effective 1 July 2012. For application provision see note under Part 4-1 heading.
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