Queensland Consolidated Acts

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TAXATION ADMINISTRATION ACT 2001 - SECT 38

Applying amounts to current and future tax liabilities

38 Applying amounts to current and future tax liabilities

(1) This section applies if a taxpayer is entitled to a refund of an amount under section 37 .
(2) The commissioner may apply the whole or part of the amount, and any section 61A interest payable on the whole or part of the amount, as payment for—
(a) any tax law liability of the taxpayer; or
(b) any tax law liability of the taxpayer that the commissioner reasonably believes will become payable within 60 days after the entitlement to the refund arises.
(3) If the commissioner does not apply all of the amount, or any section 61A interest payable on the amount, held under subsection (2) (b) to any tax law liability of the taxpayer within the 60 day period, the commissioner must immediately refund or pay to the taxpayer the amount not applied.
(4) This section has effect subject to section 39 .
(5) In this section—

"section 61A interest" , for a refund of an amount to which a taxpayer is entitled, means interest payable on the amount by the commissioner to the taxpayer under section 61A .



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