Superannuation Contributions and Termination Payments Taxes Legislation Amendment Act 1997 (191 of 1997)
Schedule 9
1 Subsection 12(4)
Repeal the subsection, substitute:
Amendment reducing surcharge
(4) If, as a result of the amendment of the assessment, the amount of surcharge is reduced:
(a) the amount by which the surcharge is reduced is taken never to have been payable; and
(b) the Commissioner must:
(i) refund the amount of any surcharge overpaid; or
(ii) apply that amount against any liability of the taxpayer to the Commonwealth under this Act, and refund to the taxpayer any part of that amount not so applied.
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