5Payment of interest on in situ pool tax refund payments

#### 5 Payment of interest on in situ pool tax refund payments (1) If an in situ pool tax refund payment is made to a person in accordance with section 4, the Commissioner is, subject to section 7, liable to pay interest to the person on the amount of the payment in accordance with this section. (2) If the in situ pool tax refund payment was made because subsection 4(2) applied: (a) the interest on so much of the payment as equals the tax that was not passed on as mentioned in paragraph 4(2)(c) is payable in respect of the period beginning when the in situ pool tax payment concerned was made and ending when the in situ pool tax refund payment was made; and (b) the interest on the rest of the payment is payable in respect of the period beginning when the refund of the tax referred to in paragraph 4(2)(d) was made and ending when the in situ pool tax refund payment was made. (3) If the in situ pool tax refund payment was made because subsection 4(3) or (5) applied, the interest is payable in respect of the period beginning when the in situ pool tax payment concerned was made and ending when the in situ pool tax refund payment was made. (4) The interest is payable at the same rate per annum as is applicable to interest in respect of the period under the Taxation (Interest on Overpayments and Early Payments) Act 1983. (5) If the interest is not a multiple of one cent, it is to be rounded up or down to the nearest multiple of one cent (amounts ending in 0.5 cent being rounded up).