Commonwealth Numbered Acts

FRANCHISE FEES WINDFALL TAX (COLLECTION) ACT 1997 No. 132 of 1997 - SECT 10

(1) When a State makes a deduction from a taxable amount under section 9 (or
purportedly under section 9), the taxpayer is entitled to a credit equal to
the amount deducted.

(2) However, the taxpayer is not entitled to a credit for any amount
purportedly deducted under section 9 in relation to an amount paid under a
valid State franchise law.

(3) The credit is a debt due to the taxpayer by the Commissioner on behalf of
the Commonwealth.

(4) The Commissioner may apply some or all of the credit against the
taxpayer's liability to windfall tax (whether or not that liability is in
respect of the taxable amount that gives rise to the credit). The Commissioner
must refund any amount not applied.