TAXATION ADMINISTRATION ACT 1953 - SECT 8AAZD Allocation of tax debts to RBAs

TAXATION ADMINISTRATION ACT 1953 - SECT 8AAZD

  (1)   The Commissioner may allocate a primary tax debt to an RBA that has been established for that type of tax debt.

Note:   General interest charge on an RBA deficit debt is not allocated to the RBA: it accrues automatically under section   8AAZF.

Separate RBAs for one entity

  (1A)   If 2 or more RBAs for an entity have been established for that kind of tax debt, the Commissioner may allocate the debt to any one of those RBAs, or between any 2 or more of those RBAs, in the manner the Commissioner determines.

Note:   Separate RBAs may be established for different businesses or undertakings conducted by the same entity, for different parts of the same business or undertaking or for different periods: see subsection   8AAZC(5).

Definition

  (2)   In this section:

"primary tax debt" does not include:

  (a)   general interest charge; or

  (b)   an RBA deficit debt.