A New Tax System (Pay As You Go) Act 1999 (178 of 1999)

Schedule 2   Running balance accounts, general interest charge and related matters

Part 2   General interest charge

Income Tax Assessment Act 1936

50   At the end of section 221AZM

Add "The credit arises when the Commissioner makes an assessment of the income tax payable by the taxpayer or determines that no income tax is payable."