48Power to require repayment and impose penalty

48 Power to require repayment and impose penalty

(1) The Commissioner may, by written notice, require an applicant (or former applicant) for a first home owner grant to repay an amount paid on the application if—

(a) the amount was paid in error; or

(b) the Commissioner reverses the decision under which the amount was paid for any other reason.

(2) If, as a result of an applicant's dishonesty, an amount is paid by way of a first home owner grant, the Commissioner may, by the notice in which repayment is required or a separate notice, impose a penalty not exceeding the amount the applicant is required to repay.

(3) If an applicant (or former applicant) for a first home owner grant fails to make a repayment required under this section or the conditions of the grant, the Commissioner may, by written notice, impose a penalty not exceeding the amount the applicant is required to repay.

S. 48(4) inserted by No. 113/2003 s. 22.

(4) An amount or penalty under this section is payable by the date specified in the notice.

S. 48(5) inserted by No. 113/2003 s. 22.

(5) An applicant (or former applicant) is liable to pay interest on any unpaid—

(a) amount that is required to be repaid to the Commissioner under subsection (1); or

(b) penalty imposed under subsection (2) or (3)—

calculated on a daily basis from the end of the last day for payment until the day it is paid at the interest rate from time to time applying under Division 1 of Part 5 of the Taxation Administration Act 1997.

S. 48(6) inserted by No. 113/2003 s. 22.

(6) The Commissioner, in such circumstances as the Commissioner considers appropriate, may remit interest payable by an applicant (or former applicant) under this section by any amount.