INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VI - COLLECTION AND RECOVERY OF TAX  

Division 3B - Collection of tax in respect of certain payments  

Subdivision B - Deductions from certain payments  

SECTION 221YHZL   APPLICATION OF CREDITS  

221YHZL(1)   [Liability of Commissioner]  

The amount of a credit to which a person is entitled by virtue of this Division is a debt due and payable to that person by the Commissioner on behalf of the Commonwealth.

221YHZL(2) - (5)    
(Repealed by No 11 of 1999)

221YHZL(6)   [Time of application of credit]  

If, under Division 3 of Part IIB of the Taxation Administration Act 1953 , the Commissioner has applied an amount of a credit in payment of an amount of tax payable by a person, the person shall be deemed to have paid the amount so applied in payment of the tax and at the time at which it was so applied or at such earlier time as the Commissioner determines.

221YHZL(7)   [Recovery of credited amount exceeding entitlement]  

Where the amount, or the sum of the amounts, applied or paid by the Commissioner as a credit to which a person is entitled under this Division exceeds the amount of the credit to which the person is so entitled, the Commissioner may recover the amount of the excess as if it were income tax due and payable by that person.

221YHZL(8)    
(Repealed by No 11 of 1999)