14Refund or rebate of tax on annual adjustment

14 Refund or rebate of tax on annual adjustment

(1) Where the wages included or required to be included in returns relating to a financial year (being a financial year prior to the financial year that commenced on 1 July 1976) furnished or to be furnished by an employer under this Act, or under this Act and under a corresponding law or corresponding laws: (a) in the case of an employer who was an employer in Australia during the whole of that financial year—do not exceed the prescribed amount referred to in subsection (4) in respect of that financial year; or (b) in the case of an employer who was an employer in Australia during part only of that financial year—do not exceed an amount that bears to the prescribed amount referred to in subsection (4) in respect of that financial year the same proportion as that part of the financial year bears to the whole of that financial year; the Commissioner shall, upon application by the employer made in accordance with subsection (3), refund or rebate to that employer the amount of tax paid or payable by him or her in respect of that financial year or that part of that financial year, as the case may be. (1AA) This section does not apply in relation to the financial year commencing on 1 July 1987 or any subsequent financial year. (1A) Where the wages included or required to be included in returns relating to a financial year (being the financial year that commenced on 1 July 1976 or a subsequent financial year) furnished or to be furnished by an employer under this Act, or under this Act and under a corresponding law or corresponding laws: (a) in the case of an employer who was an employer in Australia during the whole of the financial year—do not exceed the prescribed amount referred to in subsection (4A) in respect of that financial year; or (b) in the case of an employer who was an employer in Australia during part only of the financial year—do not exceed the prescribed amount referred to in subsection (4B) in respect of that financial year; the Commissioner shall, upon application by the employer made in accordance with subsection (3), refund or rebate to that employer the amount of tax paid or payable by him or her in respect of that financial year or that part of that financial year, as the case may be. (2) Where the total deductions made, in accordance with section 12 or in accordance with a corresponding provision of a corresponding law, from the wages included or required to be included in returns relating to a financial year furnished or to be furnished by an employer under this Act, or under this Act and under a corresponding law or corresponding laws: (a) in the case of an employer who was an employer in Australia during the whole of that financial year—are, if the financial year is a year prior to the year that commenced on 1 July 1976, less than the prescribed amount referred to in subsection (4) in respect of that financial year or, if the financial year is the year that commenced on 1 July 1976 or a subsequent year, less than the prescribed amount referred to in subsection (4A) in respect of that financial year; or (b) in the case of an employer who was an employer in Australia during part only of that financial year—are less than an amount (in paragraph (5)(b) referred to as the proportionate amount) that, if the financial year is a year prior to the year that commenced on 1 July 1976, is the amount that bears to the prescribed amount referred to in subsection (4) in respect of that financial year the same proportion as that part of that financial year bears to the whole of that financial year or, if the financial year is the year that commenced on 1 July 1976 or a subsequent year, the amount that is the prescribed amount referred to in subsection (4B) in respect of that financial year; the Commissioner shall, upon application by the employer made in accordance with subsection (3): (c) where the employer has not included and is not required to include any wages paid or payable in respect of that financial year or that part of that financial year, as the case may be, in a return furnished under a corresponding law—refund or rebate to the employer an amount equal to the tax paid or payable by him or her upon the amount of the relevant deficiency; or (d) where the employer has included or is required to include wages paid or payable in respect of that financial year or that part of that financial year, as the case may be, in a return furnished under a corresponding law and in a return furnished under this Act—refund or rebate to the employer an amount equal to the tax paid or payable by him or her upon: (i) the amount of the relevant deficiency; or (ii) the amount, if any, by which the amount of the calculated deductions applicable to him or her under subsection (5) in respect of that financial year exceed the total amount of the deductions made in relation to him or her in accordance with section 12 in respect of that financial year or that part of that financial year; whichever amount is the lesser. (3) An application under subsection (1), (1A) or (2) shall be made within the financial year next following the financial year in respect of which the refund or rebate is applied for. (4) For the purposes of subsections (1) and (2), the prescribed amount is: (a) in respect of the financial year that is the commencing period—an amount that bears to $20,800 the same proportion as the number of months in that period bears to 12; and (b) in respect of a financial year subsequent to the commencing period and prior to the financial year that commenced on 1 July 1976—$20,800. (4A) For the purposes of the application of subsections (1A) and (2) in relation to a financial year during the whole of which the employer was an employer in Australia, the prescribed amount is: (a) in respect of the financial year that commenced on 1 July 1976—the aggregate of $10,400 and whichever is the greater of: (i) the amount ascertained by deducting from $24,000 an amount of $2 for each amount of $3 included in the amount by which the amount of the total wages paid by the employer in respect of the period commencing on 1 January 1977 and ending on 30 June 1977 exceeds $24,000; or (ii) 50% of the amount ascertained by deducting from $48,000 an amount of $2 for each amount of $3 included in the amount by which the amount of the total wages paid by the employer in respect of the financial year exceeds $48,000; (b) in respect of the financial year that commenced on 1 July 1977—the amount ascertained by deducting from $48,000 an amount of $2 for each amount of $3 included in the amount by which the amount of the total wages paid by the employer in respect of the financial year exceeds $48,000; (c) in respect of the financial year that commenced on 1 July 1978—the amount ascertained by deducting from the aggregate of $30,000 and $33,000 an amount of $2 for each amount of $3 included in the amount by which the amount of the total wages paid by the employer in respect of the financial year exceeds the aggregate of $30,000 and $33,000; (d) in respect of the financial year that commenced on 1 July 1979—the amount ascertained by deducting from the aggregate of $33,000 and $36,000 an amount of $2 for each amount of $3 included in the amount by which the amount of the total wages paid by the employer in respect of the financial year exceeds the aggregate of $33,000 and $36,000; (e) in respect of the financial year that commenced on 1 July 1980—the amount ascertained by deducting from the aggregate of $36,000 and $40,200 an amount of $2 for each amount of $3 included in the amount by which the amount of the total wages paid by the employer in respect of the financial year exceeds the aggregate of $36,000 and $40,200; (f) in respect of the financial year that commenced on 1 July 1981—the amount ascertained by deducting from the aggregate of $13,400 and $100,000 an amount of $2 for each amount of $3 included in the amount by which the amount of the total wages paid by the employer in respect of the financial year exceeds that aggregate; and (g) in respect of a financial year subsequent to the financial year that commenced on 1 July 1981, where the relevant amount in relation to that year is ascertained in accordance with subsection (4D) or (4E) and subsection (4F) does not apply—the amount ascertained by deducting from that relevant amount the amount of $2 for each amount of $3 included in the amount by which the amount of the total wages paid by the employer in respect of the financial year exceeds that relevant amount; and (h) in respect of a financial year subsequent to the financial year that commenced on 1 July 1981, where, in accordance with subsection (4F), there are 2 or more relevant amounts applicable to periods in that year—the amount ascertained by: (i) calculating, in respect of the relevant amount applicable to each of those periods, an amount in accordance with the formula: