50Refund of duty where early determination of lease

#### 50 Refund of duty where early determination of lease (1) Where duty has been paid on a lease that has been granted for a term of not less than 2 years and the lease is determined before the expiration of that term, an amount equal to the amount of the difference between the amount of duty so paid and the amount of duty that would have been payable on the lease if the lease had been granted for a term expiring on the date of the determination of the lease shall, subject to this section, be refunded to the person who was the lessee immediately before the determination of the lease. (2) A refund under this section is not payable to a person unless he furnishes to the Commissioner, within 90 days after the determination of the lease, an application in accordance with an approved form together with such information as the Commissioner of Taxation requires to enable him to determine the amount of the refund.