Commonwealth Numbered Acts

TAXATION LAWS AMENDMENT ACT 1984No. 123, 1984 - SECT 34

34. Section 18 of the Principal Act is amended-

   (a)  by inserting after sub-section (2) the following sub-section:

"(2A) Where, by reason of an amendment of an assessment, a person's liability
to tax is reduced-

   (a)  the amount by which the tax is so reduced shall be taken, for the
        purposes of section 36, never to have been payable; and

   (b)  subject to sub-section (3), the Commissioner shall-

        (i)    refund the amount of any tax overpaid; or

        (ii)   apply the amount of any tax overpaid against any liability of
               the person to the Commonwealth and refund any part of the
               amount that is not so applied.";

   (b)  by omitting from sub-section (3) "and" (first occurring) and
        substituting ", the amount of the tax overpaid shall not be refunded
        to the bank or applied against a liability of the bank to the
        Commonwealth unless";

   (c)  by omitting from sub-section (3) ", the amount of tax overpaid shall
        be refunded to the bank";

   (d)  by omitting sub-section (4); and

   (e)  by omitting sub-section (7) and substituting the following
        sub-section:

"(7) In this section, unless the contrary intention appears, 'tax' includes
additional tax under section 17 or 36.".