Section RM 11 — Income Tax Act 2007: Using GST refund to pay instalment of provisional tax

RM 11 Using GST refund to pay instalment of provisional tax When this section applies (1) This section applies when a person who is liable to pay provisional tax has a goods and services tax (GST) refund in a taxable period as a result of the application of section 20(5) of the Goods and Services Tax Act 1985. Using amount (2) The person may choose to use the amount of the refund to pay some or all of an instalment of provisional tax that is payable on the same instalment date. Reduction in amount (3) If the Commissioner amends the assessment reducing the amount of the refund, the person’s payment of provisional tax arising from the GST refund is the reassessed amount. Defined in this Act: amount , assessment , Commissioner , GST , instalment date , pay , provisional tax , taxable period , Compare: 2004 No 35 s MB 11