Document ID: chunk:federal_register_of_legislation:C2024C00692:section:9:p1
Version: federal_register_of_legislation:C2024C00692
Segment Type: section
Provision Reference: s 9 (pt 1/3)
Character Range: 41925–44470

9  Entitlement to interest
 (1) Subject to sections 11, 11A and 12, where:
 (a) an amount of relevant tax is paid by a person to the Commissioner (in this subsection referred to as the amount paid); and
 (b) as a result of a decision to which this Act applies, the whole or a part of the amount paid is overpaid by the person and is refunded to the person or applied against any liability of the person to the Commonwealth;
interest calculated in accordance with subsections (2) and (3) and sections 10 and 10A is payable by the Commissioner to the person in respect of:
 (c) in a case where the whole of the amount paid is so refunded or applied—the amount paid; or
 (d) in a case where a part of the amount paid is so refunded or applied—the part of the amount paid so refunded or applied.
 (1A) If:
 (a) apart from this subsection, subsection (1) would apply to an overpayment; and
 (b) the decision to which this Act applies mentioned in that subsection was made wholly or partly to provide correlative relief, for juridical double taxation or economic double taxation, in respect of the taxing of an amount under a law of a foreign country; and
 (c) either:
 (i) the law of the foreign country did not require the payment of late payment interest in respect of the amount; or
 (ii) the law of the foreign country did require the payment of late payment interest but the payment had not been made by the time the decision to which this Act applies was made;
subsection (1) does not apply to the overpayment to the extent to which it is attributable to the provision of the correlative relief.
 (1B) Subsection (1) does not apply to an overpayment to the extent that the overpayment results from the person providing or receiving a financial benefit (within the meaning of the Income Tax Assessment Act 1997) under a look‑through earnout right (within the meaning of that Act).
 (1C) Subsection (1) does not apply to an overpayment to the extent that the overpayment results from paragraph 417‑105(a) of the Income Tax Assessment Act 1997 allowing an amount to be deducted from assessable income (within the meaning of that Act) for an earlier year of income.
 (2) Where an amount of relevant tax has, whether by agreement or otherwise, been paid by a person to the Commissioner in instalments, each instalment shall, for the purposes of section 10, be treated as a separate amount of relevant tax paid by the person to the Commissioner.
 (3) Where:
 (a) an amount of relevant tax has, whether by agreement or otherwise, been paid by a person