Document ID: chunk:federal_register_of_legislation:C2004A05336:section:8
Version: federal_register_of_legislation:C2004A05336
Segment Type: section
Provision Reference: s 8
Character Range: 3551–4357

8  State must withhold windfall tax from taxable amounts

State must withhold windfall tax

 (1) A State that is liable to repay a taxable amount must not repay or otherwise apply the taxable amount without first having deducted the windfall tax on the taxable amount.

 (2) As soon as practicable after making a deduction under subsection (1), the State must notify the taxpayer in writing that the deduction was made.

 (3) An amount deducted under subsection (1) is payable by the State to the Commonwealth.

State discharged from liability to account

 (4) When a State makes a deduction from a taxable amount under subsection (1) (or purportedly under subsection (1)), the State is discharged from any liability to pay or account for the amount deducted to any person other than the Commissioner.