50
In forceRefund of overpaid amounts
Part 5Statements, certificates and assessments
Division 2Assessments
Subdivision COther provisions relating to assessments
50 Refund of overpaid amounts
(1)
If, because an assessment is amended, a person’s liability to renewable energy shortfall charge is reduced:
(a)
the amount by which the charge is reduced is taken, for the purposes of section 70, never to have been payable; and
(b)
the Regulator must:
(i)
refund any overpaid amount; or
(ii)
apply any overpaid amount against the person’s liability (if any) to the Commonwealth and refund any part of the amount that is not so applied.
(2)
In subsection (1):
overpaid amount includes any overpaid amount of penalty charge or interest charge.
This Act’s bill:Explanatory memorandumSecond reading speech
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