Superannuation Guarantee (Administration) Act 1992

PART 4 - SUPERANNUATION GUARANTEE STATEMENTS AND ASSESSMENTS  

SECTION 38   REFUND OF OVERPAID AMOUNTS  

38(1)   [Where liability reduced]  

If, because an assessment is amended, a person ' s liability to superannuation guarantee charge is reduced:

(a) the amount by which the charge is reduced is taken, for the purposes of section 49 , never to have been payable; and

(b) the Commissioner must:

(i) refund any overpaid amount; or

(ii) apply any overpaid amount against the person ' s liability (if any) to the Commonwealth and refund any part of the amount that is not so applied.

38(2)   [ " overpaid amount " ]  

View history reference

In subsection (1):

overpaid amount
includes any overpaid amount of additional superannuation guarantee charge under section 49 or Part 7 of this Act or administrative penalty under Part 4-25 in Schedule 1 to the Taxation Administration Act 1953 .

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History

Definition of " overpaid amount " amended by No 91 of 2000, s 3 and Sch 2 item 61, by inserting " of this Act or administrative penalty under Part 4-25 in Schedule 1 to the Taxation Administration Act 1953 " after " Part 7 " , effective 1 July 2000.

Sch 2 of No 91 of 2000 contains the following transitional provision:

Transitional - existing RBAs  
129
Although the A New Tax System (Pay As You Go) Act 1999 repealed subsection 8AAZL(3) of the Taxation Administration Act 1953 , special priority credits referred to in that subsection are to continue to be applied in accordance with that subsection.

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