INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VI - COLLECTION AND RECOVERY OF TAX  

Division 3B - Collection of tax in respect of certain payments  

Subdivision B - Deductions from certain payments  

SECTION 221YHZDB   REFUND OF DEDUCTIONS WHERE EXEMPTION NOT CLAIMED  

221YHZDB(1)   [Conditions for refund]  

Where, on an application in writing by a person, the Commissioner is satisfied that:

(a) an investment body made a deduction under subsection 221YHZC(1A) from a payment of income to the applicant in respect of a Part VA investment;

(b) though the applicant would have been entitled to give the investment body a declaration under Division 5 of Part VA in relation to the investment, no such declaration was given; and

(c) having regard to:

(i) the purposes of this Division; and

(ii) such other matters (if any) as the Commissioner thinks appropriate;

it would be fair and reasonable to refund the whole or part of the amount deducted;

the Commissioner shall refund the whole or a part of that amount to the applicant.

221YHZDB(2)   [No entitlement to sec 221YHZK credit]  

A person is not entitled to a credit under section 221YHZK in respect of an amount refunded under subsection (1) of this section.