Treasury Laws Amendment (Tax Incentives and Integrity) Act 2025 (29 of 2025)

Schedule 3   Extending ATO notification period for retaining refunds

Taxation Administration Act 1953

1   Paragraph 8AAZLGA(3)(a)

Repeal the paragraph, substitute:

(a) in a case to which paragraph 8AAZLF(1)(a) applies:

(i) if the whole or part of the RBA surplus of the entity arises because of a credit that arises directly under the BAS provisions (as defined in subsection 995-1(1) of the Income Tax Assessment Act 1997) - the 16th day to occur after the RBA interest day (within the meaning of section 12AF of the Taxation (Interest on Overpayments and Early Payments) Act 1983) for the RBA surplus; or

(ii) otherwise - the RBA interest day for the RBA surplus of the entity; or