Tax Laws Amendment (2008 Measures No. 6) Act 2009 (14 of 2009)

Schedule 2   Mutual assistance in collection

Taxation Administration Act 1953

5   Subsection 263-35(5) in Schedule 1

Repeal the subsection, substitute:

(5) If the Commissioner removes particulars of a *foreign revenue claim relating to the recovery of an amount from the Register under paragraph (2)(a) or subsection (4), the debtor is entitled to a credit for the purposes of Part IIB equal to the sum of:

(a) the amount (as reduced by any previous application of subsection (6)); and

(b) any *general interest charge for which the debtor is liable as a result of the foreign revenue claim.

Note: How the credit is applied is set out in Part IIB.