Document ID: chunk:federal_register_of_legislation:C2004C01086:clause:13_12aa
Version: federal_register_of_legislation:C2004C01086
Segment Type: clause
Provision Reference: sch 13 cl 12AA
Character Range: 302914–303560

12AA  Entitlement to interest for RBA surpluses after notification of BAS amount

  If:
 (a) the Commissioner has allocated a BAS amount to an RBA of an entity; and
 (b) section 12AB does not apply (that section is about remission of penalties); and
 (c) under subsection 8AAZLF(1) of the Taxation Administration Act 1953, the Commissioner is required to refund to the entity the whole or part of an RBA surplus for that RBA; and
 (d) the refund takes place after the RBA interest day;
then interest is payable by the Commissioner to the entity on the amount refunded.

Note: Section 12AF defines BAS amount, RBA surplus and RBA interest day.