Taxation Administration Act 1953

PART IIB - RUNNING BALANCE ACCOUNTS, APPLICATION OF PAYMENTS AND CREDITS, AND RELATED MATTERS  

Division 2 - Running Balance Accounts (or RBAs)  

SECTION 8AAZD   ALLOCATION OF TAX DEBTS TO RBAs  

8AAZD(1)   [Primary tax debt]  

The Commissioner may allocate a primary tax debt to an RBA that has been established for that type of tax debt.

Note:

General interest charge on an RBA deficit debt is not allocated to the RBA: it accrues automatically under section 8AAZF .

8AAZD(1A)   Separate RBAs for one entity.  

If 2 or more RBAs for an entity have been established for that kind of tax debt, the Commissioner may allocate the debt to any one of those RBAs, or between any 2 or more of those RBAs, in the manner the Commissioner determines.

Note:

Separate RBAs may be established for different businesses or undertakings conducted by the same entity, for different parts of the same business or undertaking or for different periods: see subsection 8AAZC(5) .

8AAZD(2)   Definition.  

In this section:

primary tax debt
does not include:

(a) general interest charge; or

(b) an RBA deficit debt.