53Deduction of rebates from tax payable

53 Deduction of rebates from tax payable

Notwithstanding anything contained in the last two preceding regulations, where the Commissioner is satisfied that a taxpayer to whom regulation 48 of these Regulations applies keeps such records as will enable the taxpayer to calculate accurately the amounts which may be refunded or paid to him in accordance with regulation 50 of these Regulations and that the taxpayer will at all times claim refunds of such amounts only as may be refunded or paid to him in accordance with that regulation, the Commissioner may, subject to any notification which the Commissioner at any time makes to the contrary and to any conditions or qualifications which he at any time makes:

(a) dispense with the furnishing by that taxpayer of the statement and evidence specified in regulation 51 of these Regulations; and

(b) authorize the taxpayer to deduct from the tax payable in respect of each monthly return, as specified in subregulation (2) of that regulation, the amounts which may be refunded or paid to him in respect of the tax so payable.