Commonwealth Consolidated Acts

TAXATION ADMINISTRATION ACT 1953 - SECT 8AAZLD

                   If, under this Division, the Commissioner is to apply a credit that arises under Schedule 1 to this Act (the PAYG system), the Commissioner must apply it, whether under section 8AAZLA or 8AAZLB:

                     (a)  first, against any HEC assessment debt of the entity; and

                    (aa)  secondly, against any compulsory repayment amount of the entity; and

                     (b)  then against any FS assessment debt of the entity;

before applying it against other non‑RBA tax debts of the entity.