Document ID: chunk:federal_register_of_legislation:C2010C00715:clause:1_4:p18
Version: federal_register_of_legislation:C2010C00715
Segment Type: clause
Provision Reference: sch 1 cl 4 (pt 18/21)
Character Range: 102735–105377

of the *eligible termination payment:
 (i) is taken to have been rolled‑over for the purposes of Subdivision AA of Division 2 of Part III of the Income Tax Assessment Act 1936; or
 (ii) will be taken to have been rolled‑over because of an amount or amounts being paid to a person or persons (the payee or payees) as mentioned in subsection 27A(12) of that Act; and
 (b) if the applied amount is a part of the eligible termination payment—the withheld amount exceeds the amount that would have been the *amount required to be withheld if the eligible termination payment had not included the applied amount.

 (3) The amount refundable is:
 (a) if the applied amount is the whole of the *eligible termination payment—the *amount withheld from the *withholding payment; or
 (b) if the applied amount is a part of the eligible termination payment—the excess referred to in paragraph (2)(b).

 (4) The Commissioner must refund that amount:
 (a) by paying the refundable amount to the recipient of the *eligible termination payment; or
 (b) by paying to the recipient, and the payee or payees on behalf of the recipient, amounts equal in the aggregate to the refundable amount; or
 (c) by paying to the payee or payees on behalf of the recipient the refundable amount, or amounts equal in the aggregate to the refundable amount;
as appropriate.

18‑80  Refund by Commissioner of amount withheld from payment in respect of investment

  The Commissioner must refund to an entity all or part of an *amount withheld from a *withholding payment covered by section 12‑140 or 12‑145 that was made to that entity if:
 (a) the entity applies in writing for the refund; and
 (b) the Commissioner is satisfied that the entity was entitled to give *the investment body a declaration under Division 5 of Part VA of the Income Tax Assessment Act 1936 in relation to the *Part VA investment in respect of which the withholding payment was made, but did not do so; and
 (c) the Commissioner is also satisfied it is fair and reasonable to make the refund, having regard to the purposes of this Part and any other matters that the Commissioner considers appropriate.

Note: A person who is dissatisfied with a decision under this section may object against the decision in the manner set out in Part IVC.

Subdivision 18‑C—Recipient's obligations

18‑100  Obligation to keep payment summary

  An entity that is given a *payment summary and a copy of it in any financial year under this Part must retain that copy for 5 years after the end of that year.

Penalty: 30 penalty units.

Note: See section 4AA of the Crimes Act 1914 for the current value of a penalty