Document ID: chunk:federal_register_of_legislation:C2024C00692:section:3:p3
Version: federal_register_of_legislation:C2024C00692
Segment Type: section
Provision Reference: s 3 (pt 3/3)
Character Range: 9787–12106

Tax Agreements Act 1953; or
 (b) any offset under former section 160AQK of the Tax Act; or
 (c) any tax offset that is subject to the refundable tax offset rules.
Note 1: Division 67 of the Income Tax Assessment Act 1997 lists the tax offsets that are subject to the refundable tax offset rules.
Note 2: For credits that arise under section 18‑170 or 18‑175 in Schedule 1 to the Taxation Administration Act 1953, see subsection (3) of this section.
late payment interest, in respect of an amount, means interest payable solely to compensate for the time value of the amount.
objection means a taxation objection within the meaning of Part IVC of the Taxation Administration Act 1953.
person includes:
 (a) a body politic; and
 (b) a body corporate; and
 (c) a partnership; and
 (d) any other unincorporated association or body of persons.
provide correlative relief has the meaning given by section 3A.
relevant tax has the meaning given by section 3C.
Second Commissioner means a Second Commissioner of Taxation.
Tax Act means the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997.
Tribunal means the Administrative Review Tribunal.
year of income means year of income as defined in subsection 6(1) of the Tax Act.
 (2) A reference in this Act to a liability of a person to the Commonwealth is a reference to a liability of a person to the Commonwealth arising under, or by virtue of, an Act of which the Commissioner has the general administration.

Credits under section 18‑170 or 18‑175 in Schedule 1 to the Taxation Administration Act 1953
 (3) To avoid doubt, for the purposes of this Act, a credit of an individual that arises under section 18‑170 or 18‑175 in Schedule 1 to the Taxation Administration Act 1953 relates to the income tax payable by the individual for the year of income in which the individual becomes entitled to the credit.
Note: Subdivision 18‑D in Schedule 1 to the Taxation Administration Act 1953 provides that a director, or an associate of a director, of a company that does not comply with its obligations under Part 2‑5 (Pay as you go (PAYG) withholding) must pay Pay as you go withholding non‑compliance tax in certain circumstances. Sections 18‑170 and 18‑175 entitle the director or associate to a credit if the company subsequently complies with its obligations.