Coronavirus Economic Response Package (Payments and Benefits) Act 2020
If, under the rules, the Commissioner is required to pay a Coronavirus economic response payment to an entity, the Commissioner must pay the payment to the credit of:
(a) if the entity has nominated a financial institution account as referred to in section 8AAZLH of the Taxation Administration Act 1953 - that account; or
(b) if paragraph (a) does not apply - the financial institution account nominated by the entity in the entity ' s most recent income tax return lodged for an income year.
8(2)
However, the Commissioner may direct that the payment be paid to the entity in a different way.
8(3)
If the entity has not nominated a financial institution account as mentioned in subsection (1) and the Commissioner has not directed that the payment be paid in a different way, the Commissioner is not obliged to pay the payment to the entity until the entity does so.
8(4)
If the Commissioner pays a payment to the credit of a financial institution account nominated by an entity, the Commissioner is taken to have paid the payment to the entity.
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