INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
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Hide history note(a) has taken liability reduction action; or
(b) has paid a company tax instalment;
the company may lodge an application with the Commissioner for:
(c) the determination of an estimated class C debit in relation to the liability reduction action or the company tax instalment; or
(d) the determination of such an estimated class C debit in substitution for an earlier determination. 160AQDAA(2) [Estimated class C debit in relation to company tax instalment]
An estimated class C debit in relation to a company tax instalment must relate to the refund of that instalment under section 221AZL or 221AZQ .
160AQDAA(2A) [PAYG instalment variation credit]An estimated class C debit in relation to a PAYG instalment must relate to a PAYG instalment variation credit in relation to the instalment.
(a) be made before the termination time; and
(b) be in the approved form; and
(c) specify the amount of the estimated class C debit applied for. 160AQDAA(4) [Commissioner's determination and notice]
(a) may determine an estimated class C debit not greater than the amount specified in the application; and
(b) must serve notice of any such determination on the company. 160AQDAA(5) [Determination and notice deemed made]
(a) a company lodges an application with the Commissioner on a particular day (the application day ); and
(b) at the end of the 21st day after the application day, the Commissioner has neither:
(i) served notice of an estimated class C debit determination on the company; nor
(ii) refused to make an estimated class C debit determination;
the Commissioner is taken, on the 22nd day after the application day, to have:
(c) determined an estimated class C debit in accordance with the application; and
(d) served notice of the determination on the company. 160AQDAA(6) [Notice served after termination time]
A notice of an estimated class C debit determination has no effect if it is served after the termination time.
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