57Clawback of CR21 credit on later recovery of bad debt

#### 57 Clawback of CR21 credit on later recovery of bad debt (1) A credit under CR21 in relation to an amount written off by the claimant as a bad debt is subject to the condition that the claimant is liable to pay an amount under this section if the claimant later recovers some or all of the amount written off. (2) The amount payable by the claimant is calculated using the following formula:  (3) The amount is to be treated as if it were tax that became payable by the claimant at the time of recovery of the bad debt, and were due for payment as follows: (a) if the claimant is a quarterly remitter for the sales tax quarter in which the recovery happened—21 days after the end of that quarter; or (b) in any other case—21 days after the end of the month in which the recovery happened. > Note: \[The main effect of treating the amount as if it were tax is to apply the collection and recovery rules in Part 5.\]