A NEW TAX SYSTEM (LUXURY CAR TAX) ACT 1999 - SECT 17.5 Credits for tax borne

Commonwealth Numbered Acts

Credits for tax borne

(a): you have a credit entitlement under this section; and
(b): you are not ^*registered or ^*required to be registered; and
(c): no one else has made a valid claim for a credit in relation to the credit entitlement.

(a): luxury car tax on a supply to you was overpaid (that is, the supplier paid an amount of luxury car tax that was not legally payable); and
(b): you have ^*borne the overpaid luxury car tax.

(3): You have a credit entitlement if you have ^*borne luxury car tax on a supply of a ^*car for which you could have ^*quoted except that you were not ^*registered at the time of the supply.
(4): You have a credit entitlement if you have paid luxury car tax on the ^*importation of a ^*luxury car for which you could have ^*quoted except that you were not ^*registered at the time of the importation.
(5): The amount of the credit is the amount of:

(a): overpaid luxury car tax ^*borne by you; or
(b): luxury car tax that would not have been payable by the supplier had you ^*quoted for the supply in question and that was borne by you; or
(c): luxury car tax that you would not have paid had you quoted for the ^*importation in question;

but only to the extent that you have not ^*passed on that amount or have not already been credited in respect of that amount.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback