Western Australian Current Acts

TAXATION ADMINISTRATION ACT 2003 - SECT 55A

55A .         Unused credit

        (1)         If an amount credited against a taxpayer’s future tax liabilities under section 54(2) is not debited against those liabilities within 2 years after the credit arose the Commissioner may —

            (a)         if the amount is less than the prescribed amount, write off the credit; or

            (b)         otherwise, pay the amount to the Treasurer to be dealt with as prescribed retained money in accordance with the Unclaimed Money Act 1990 section 9(1)(r)(ii).

        (2)         If a credit is written off under subsection (1)(a) —

            (a)         the amount written off is to be credited to the Consolidated Account; and

            (b)         the Unclaimed Money Act 1990 does not apply to or in relation to that amount.

        (3)         If a credit is written off under subsection (1)(a) and within 5 years after the credit arose the taxpayer requests payment of the written off amount, the Commissioner must pay that amount to the taxpayer.

        [Section 55A inserted: No. 31 of 2008 s. 25.]