A New Tax System (Goods and Services Tax) Act. Australia

Чтение книги онлайн.

СКАЧАТЬ arises for any of your net amounts that are less than zero.

      35-5 Entitlement to refund

      (1) If the *net amount for a tax period is less than zero, the Commissioner must, on behalf of the Commonwealth, pay that amount (expressed as a positive amount) to you.

      Note 1: See Division 3A of Part IIB of, and section 105-65 in Schedule 1 to, the Taxation Administration Act 1953 for the rules about how the Commissioner must pay you. Division 3 of Part IIB allows the Commissioner to apply the amount owing as a credit against tax debts that you owe to the Commonwealth.

      Note 2: Interest is payable under the Taxation (Interest on Overpayments and Early Payments) Act 1983 if the Commissioner is late in refunding the amount.

      (2) However, if the amount paid, or applied under the Taxation Administration Act 1953 , exceeds the amount to which you are properly entitled under subsection (1), the excess is to be treated as if it were GST that became payable, and due for payment, by you at the time when the amount was paid or applied.

      Note: The main effect of treating the amount as if it were GST is to apply the collection and recovery rules in Part 3-10 in Schedule 1 to the Taxation Administration Act 1953, such as a liability to pay the general interest charge under section 105-80 in that Schedule.

      35–10 When entitlement arises

      Your entitlement to be paid an amount under section 35-5 arises when you give the Commissioner a *GST return.

      35–99 Special rules relating to refunds

      Chapter 4 contains special rules relating to refunds, as follows:

      Checklist of special rules

      Item

      For this case …

      See:

      1

      Anti-avoidance

      Division 165

      2

      GST branches

      Division 54

      3

      GST joint ventures

      Division 51

      4

      Tourist refund scheme

      Division 168

      Note: Section 105-65 in Schedule 1 to the Taxation Administration Act 1953also relates to refunds of net amounts.

      Part 2–8—Checklist of special rules

      Division 37—Checklist of special rules

      37-1 Checklist of special rules

      The provisions set out in the table contain special rules relating to the matters indicated.

      Checklist of special rules

      Item

      For this case…

      See:

      1AA

      Accounting basis of charitable institutions etc.

      Division 157

      1

      Agents and insurance brokers

      Division 153

      1A

      Annual apportionment of creditable purpose

      Division 131

      1B

      Annual tax periods

      Division 151

      2

      Anti-avoidance

      Division 165

      3

      Associates

      Division 72

      3A

      Bad debts relating to transactions that are not taxable or creditable to the fullest extent

      Division 136

      4

      Cancelled lay-by sales

      Division 102

      5

      Cessation of registration

      Division 138

      6

      Changes in the extent of creditable purpose

      Division 129

      7

      Changing your accounting basis

      Division 159

      8

      Company amalgamations

      Division 90

      8A

      Compulsory third party schemes

      Division 79

      9

      Customs security etc. given for taxable importations

      Division 171

      10

      Deposits as security

      Division 99

      10A

      Distributions from deceased estates

      Division 139

      11

      Financial supplies (reduced credit acquisitions)

      Division 70

      11A

      Fringe benefits provided by input taxed suppliers

      Division 71

      12

      Gambling

      Division 126

      12A

      Goods applied solely to private or domestic use

      Division СКАЧАТЬ