Taxation Administration Act 1953
Note: See section 3AA .Chapter 4 - Generic assessment, collection and recovery rules
This section applies to the following liabilities:
(a) the liability of the company under its obligation referred to in section 269-10 ;
(b) the liability of each director (or former director) to pay a penalty under this Division in relation to the liability of the company referred to in paragraph (a);
(c) a liability under a judgment, to the extent that it is based on a liability referred to in paragraph (a) or (b). Discharging one liability discharges other liabilities 269-40(2)
If an amount is paid or applied at a particular time towards discharging one of the liabilities, each of the other liabilities in existence at that time is discharged to the extent of the same amount. 269-40(3)
If, because of section 268-20 (Nature of liability to pay estimate), one of the liabilities is discharged at a particular time to the extent of a particular amount, each of the other liabilities in existence at that time is discharged to the extent of the same amount. 269-40(4)
This section does not discharge a liability to a greater extent than the amount of the liability.
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