TAXATION ADMINISTRATION ACT 1996 - SECT 105
Payment of interest
TAXATION ADMINISTRATION ACT 1996 - SECT 105
Payment of interest
105 Payment of interest
(1) In addition to an amount refunded under this Division, the
Chief Commissioner is required, subject to section 19, to pay interest on the
amount calculated on a daily basis from the date of its payment by the
taxpayer until the date of the refund at the market rate component under
section 22.
(2) The requirement under this section to pay interest on an
amount refunded to the taxpayer extends, subject to section 19, to an amount
of land tax or payroll tax paid by and refunded to any other member of a group
to which the taxpayer belongs if--
(a) (as a consequence of the objection of
the taxpayer being allowed in whole or in part or the review being successful)
the Chief Commissioner makes a reassessment of the amount of land tax or
payroll tax the other member of the group is liable to pay, and
(b) the
reassessment shows that the other member of the group is entitled to the
refund.