Budget Savings (Omnibus) Act 2016 (55 of 2016)

Schedule 23   Single touch payroll reporting

Part 1   Reporting by employers

Division 2   Other amendments

Taxation Administration Act 1953

8   After paragraph 14ZW(1)(aad)

Insert:

(aae) if the taxation objection is made under subsection 8AAZLGB(4) of this Act (retaining refunds until notification under Division 389 or ascertainment of liability) - the period:

(i) starting at the end of the 60 day period after the end of the day before which, under subsection 8AAZLGB(2), the Commissioner is required to inform the entity mentioned in section 8AAZLGB that the Commissioner has retained an amount under that section; and

(ii) ending on the day (if any) on which, under subsection 8AAZLGB(3), the Commissioner ceases to be entitled to retain the amount; or