TAXATION (INTEREST ON OVERPAYMENTS AND EARLY PAYMENTS) ACT 1983 (ARCHIVE)

PART III - INTEREST ON OVERPAYMENTS RESULTING FROM DECISIONS TO WHICH THIS ACT APPLIES  

SECTION 9 (ARCHIVE)   ENTITLEMENT TO INTEREST  

9(5)   [Provisional tax]  

Where:

(a) an amount of provisional tax paid by a person to the Commissioner in respect of income of a year of income (the relevant year of income ) is applied or refunded in respect of a credit under subsection 221YCA(2) or (3) or section 221YE of the Tax Act;

(b) interest is payable to the person under this Act in respect of an amount of income tax refunded to the person, or applied against any liability of the person to the Commonwealth, as a result of a decision to which this Act applies in relation to an assessment of income tax in respect of the year of income next preceding the relevant year of income; and

(c) the amount of provisional tax, or a part of the amount of provisional tax, would, if it had not been so credited or refunded by the Commissioner, have been refunded to the person, or applied against any liability of the person to the Commonwealth, as a result of the decision,

the amount of provisional tax or the part of the amount of provisional tax, as the case may be, shall, for the purposes of this Act, be deemed to have been refunded to the person as a result of the decision on the day on which the amount of provisional tax was so credited or refunded.