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DUTIES ACT 1997 - SECT 87D
Recovery of grant amount wrongly paid
87D Recovery of grant amount wrongly paid
(1) The Chief Commissioner may revoke his or her approval of an application
under the scheme if the Chief Commissioner subsequently forms the opinion that
the agreement or transfer is not eligible under the scheme.
(2) If the Chief
Commissioner revokes his or her approval of an application under the scheme,
and the new home grant has already been paid, the amount of the new home grant
is to be deducted from the amount paid as duty in respect of the agreement or
transfer.
(3) If approval of an application is revoked, and the agreement or
transfer was chargeable with duty of less than $5,000, or not chargeable with
duty, a person to whom the new home grant was paid under the approval is
liable to repay the amount of the grant, as duty, to the Chief Commissioner.
(4) Liability for any duty payable as a result of the revocation of the Chief
Commissioner's approval arises when notice of the revocation is served on the
taxpayer.
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