Section RM 10 — Income Tax Act 2007: Using refund to satisfy tax liability

RM 10 Using refund to satisfy tax liability When this section applies (1) This section applies when a person is entitled to a refund of an amount of tax under sections RM 2 and RM 4 to RM 6 . An amount of tax under this section includes an amount of a refundable tax credit under section LA 5(5) (Treatment of remaining credits). Section LB 4 (Tax credits for families) may apply to adjust the amount available. Request for particular application (2) The person may ask under section 173T of the Tax Administration Act 1994 for the Commissioner to apply some or all of the amount on a particular date to satisfy a liability under the Inland Revenue Acts. Commissioner applying refund (3) If no request is made under subsection (2), the Commissioner may apply the amount of the refund to satisfy a liability that the person has under the Inland Revenue Acts. Exclusion (4) Despite subsection (3), the Commissioner must not apply the amount of a refund under section LA 7(1)(a) (Remaining refundable credits: tax credits under social policy schemes) or RM 8 to satisfy a liability of the person. Defined in this Act: amount , amount of tax , Commissioner , Inland Revenue Acts , refundable tax credit Compare: 2004 No 35 ss MD 1(3), (3A) , MD 1(4) Section RM 10(1): substituted (with effect on 1 April 2008), on 6 October 2009, by section 543(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section RM 10(1): amended (with effect on 1 April 2008), on 6 October 2009, by section 543(2) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section RM 10(4): amended (with effect on 1 April 2008), on 2 November 2012, by section 153 of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88). Section RM 10(4): amended (with effect on 1 April 2008), on 6 October 2009, by section 543(3) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section RM 10(4): amended, on 1 April 2008, by section 546 of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109). Section RM 10 list of defined terms refundable tax credit : added (with effect on 1 April 2008), on 6 October 2009, by section 543(4) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).