Document ID: chunk:federal_register_of_legislation:C2004C01086:clause:13_12ac
Version: federal_register_of_legislation:C2004C01086
Segment Type: clause
Provision Reference: sch 13 cl 12AC
Character Range: 304296–304962

12AC  Entitlement to interest for RBA surpluses after request for refund

  If:
 (a) the Commissioner has allocated a payment to an RBA of an entity; and
 (b) the Commissioner has allocated or intends to allocate a BAS amount to that RBA; and
 (c) under subsection 8AAZLF(2) of the Taxation Administration Act 1953, the Commissioner, as a result of a request by the entity, is required to refund 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.