Western Australian Repealed Acts Western Australian Repealed ActsThis legislation has been repealed.
(1) If —
(a) the
start date (within the meaning of section 11) for a certificate is before the
date on which the certificate was issued;
(b)
debits tax has been paid on a debit made to the account on or after the start
date; and
(c)
debits tax would not have been payable on that debit had the certificate been
issued on the start date,
then debits tax is to
be taken never to have been payable on that debit and the Commissioner is to
make a reassessment accordingly.
(2) An application for
a reassessment may be made —
(a) if
the financial institution has recovered the amount of the debits tax from the
customer — by the customer; or
(b)
otherwise — by the financial institution.
(3) Despite section 17
of the Taxation Administration Act 2003 , the Commissioner may make a
reassessment under subsection (1) of the amount of debits tax payable on any
debit made to the account after the start date, irrespective of when the
original assessment in relation to that debit was made.
(4) If a customer who
is entitled under this section to apply for a reassessment of the amount of
debits tax payable on a debit but has not done so, presents the certificate
referred to in subsection (1)(a) to the financial institution —
(a) the
financial institution is to pay to the customer an amount equal to the amount
of the debits tax; and
(b) the
financial institution may then apply for a reassessment instead of the
customer.
(5) A financial
institution that is entitled under subsection (4) to apply for a reassessment
may, instead of applying for a reassessment, include in its monthly return
lodged under section 9 for the month in which the customer presented the
certificate a credit of an amount equal to the amount of debits tax.