Document ID: chunk:federal_register_of_legislation:C2010C00673:body:0:p63
Version: federal_register_of_legislation:C2010C00673
Segment Type: other
Provision Reference: 
Character Range: 156703–159320

interest is also payable under Part IIIA on the whole or
part of the payment in respect of the whole or part of the
period;
then interest is not payable under this Part on the whole or
part of the payment in respect of the whole or part of the
period.".

"PART IIB - INTEREST ON OVERPAYMENTS RESULTING FROM ASSESSMENTS
Entitlement to interest - ordinary taxpayers
  "8E. (1) If:
  (a) a person who is neither a relevant entity nor an
instalment taxpayer furnishes a return of income for a year of
income; and
  (b) an assessment is made of the income tax payable by the
person for the year of income; and
  (c) the notice of assessment notifies that the Commissioner
has credited, applied or refunded (which crediting, applying or
refunding is the 'notice crediting') one or more 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 under the assessment (after allowing
any rebate or deduction under subsection 100(2) of the Tax Act
and before allowing any crediting, applying or other payment);
    (ii) additional tax for the year of income payable by the
person under Part VII of the Tax Act immediately before the
notice crediting;
    (iii) an HEC assessment debt that is notified in the notice
of assessment;
    (iv) an FS assessment debt that is notified in the notice
of assessment;
    (v) interest for the year of income payable by the person
under section 102AAM of the Tax Act immediately before the
notice crediting; and
  (e) the notice crediting occurs more than 30 days or more
after the day on which the person furnishes the return of
income;
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.
  "(2) If:
  (a) a person who is neither a relevant entity nor an
instalment taxpayer furnishes a return of income for a year of
income; and
  (b) an assessment is made of the income tax payable by the
person for the year of income; and
  (c) after the notice of assessment is issued to the person,
the Commissioner credits, applies or refunds (which crediting,
applying or refunding is a 'post-notice crediting') one or more
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)