Document ID: chunk:federal_register_of_legislation:C2010C00673:body:0:p64
Version: federal_register_of_legislation:C2010C00673
Segment Type: other
Provision Reference: 
Character Range: 159087–161788

income tax crediting amounts in relation to the income tax
payable by the person for the year of income; and
  (d) the sum of the income tax crediting amounts in paragraph
        (c) exceeds the sum of the following amounts:
    (i) income tax payable for the year of income by the person
immediately before the post-notice crediting;
Note: This is the amount payable under the assessment for the
year of income as reduced by any rebate, deduction under
subsection 100(2) of the Tax Act, crediting, applying or other
payment made before the post-notice crediting.
    (ii) additional tax for the year of income payable by the
person under Part VII of the Tax Act immediately before the
post-notice crediting;
    (iii) an HEC assessment debt, worked out by reference to
the person's taxable income of the year of income, payable by
the person immediately before the post-notice crediting;
    (iv) an FS assessment debt, worked out by reference to the
person's taxable income of the year of income, payable by the
person immediately before the post-notice crediting;
    (v) interest for the year of income payable by the person
under section 102AAM of the Tax Act immediately before the
post-notice crediting;
interest is payable by the Commissioner to the person on the
excess mentioned in paragraph (d), calculated in respect of the
period applicable under section 8F at the rate specified in
section 8I.
Interest period-ordinary taxpayers
  "8F. (1) If subsection 8E(1) applies, the interest is payable
on the excess mentioned in paragraph 8E(1)(d) for the period
from the beginning of the 30th day after the day on which the
person furnishes the return of income until the end of the day
on which the notice of assessment is issued.
  "(2) If subsection 8E(2) applies and subsection (3) of this
section does not apply, the interest is payable on the excess
mentioned in paragraph 8E(2)(d) for the period from the
beginning of the day on which the notice of assessment is
issued until the end of the day on which the post-notice
crediting occurs.
  "(3) If:
  (a) subsection 8E(2) applies; and
  (b) one or more payments have been made (including any taken
to have been made because of the crediting or applying of any
amount) of any amounts mentioned in subparagraphs 8E(1)(d)(i)
to (v) (including those amounts as increased or decreased for
any reason) after the notice of assessment is issued and before
the post-notice crediting;
the interest is payable:
  (c) on so much of the excess as is attributable to a
particular payment mentioned in paragraph (b) - for the period
from the beginning of the day on which the payment was made
until the end of the day on which the post-notice crediting