Document ID: chunk:federal_register_of_legislation:C2024C00692:section:12f
Version: federal_register_of_legislation:C2024C00692
Segment Type: section
Provision Reference: s 12F
Character Range: 56490–57065

12F  Adjustment where amount to be paid by, or refunded to, person does not exceed 49 cents
  If:
 (a) an amount of interest payable to a person under this Act is applied in discharge of a liability of the person to the Commonwealth; and
 (b) the amount (if any) remaining to be paid (the net amount) by the person in relation to that liability is less than 50 cents;
the net amount is not payable by the person.

Part IV—Miscellaneous

Note: For rules about allocation of credits arising under this Act, see Division 3 of Part IIB of the Taxation Administration Act 1953.