1061ZZEYA
CurrentRefunding of payments
Volume 3Chapter 2AA, Part 2AA.1 to Chapter 3, Part 3.12 (sections 1061ZVAA to 1157)
Chapter 2BStudent Financial Supplement Scheme
Part 2B.3Repayment of financial supplement through taxation system after termination date
Division 4Voluntary repayments of FS debts
1061ZZEYA Refunding of payments
If:
(a)
a person pays an amount to the Commonwealth under this Division; and
(b)
the amount exceeds the sum of:
(i)
the amount required to discharge the total debt that the person owed to the Commonwealth under this Part; and
(ii)
the total amount of the person’s primary tax debts (within the meaning of Part IIB of the Taxation Administration Act 1953);
the Commonwealth must refund to the person an amount equal to that excess.
Note:
Interest is payable if the Commonwealth is late in paying requested refunds: see Part IIIA of the Taxation (Interest on Overpayments and Early Payments) Act 1983.
This Act’s bill:Second reading speech
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