18BRepayment where deposits exceed taxable primary production income

18B Repayment where deposits exceed taxable primary production income

(1) If the authorised person is satisfied that the amount of a deposit or a part of a deposit is not, because of subsection 159GC(3) of the Assessment Act, allowable as a deduction from the assessable income of the owner, then the authorised person must declare in writing that the deposit or the part is repayable. (2) The deposit or the part becomes repayable once the declaration is made. (3) For the purposes of this section, interest added to the balance of a deposit in accordance with subsection 4B(3) of this Act is taken to be a separate deposit.