CTHIn ForceAct
Taxation Administration Act 1953
18‑42 Credit—departing Australia superan18‑42 Credit—departing Australia superannuation payment
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#### 18‑42 Credit—departing Australia superannuation payment
Credit—amount withheld
(1) If there is an \*amount withheld from a \*withholding payment that is covered by section 12‑305 (departing Australia superannuation payment), the entity liable to pay \*withholding tax under section 301‑175 of the Income Tax Assessment Act 1997 on the payment is entitled to a credit of an amount equal to the amount withheld.
Credit—penalty amount
(2) If an entity has paid to the Commissioner a penalty amount under section 16‑30 or 16‑35 in relation to an \*amount required to be withheld under section 12‑305 (departing Australia superannuation payment), the entity mentioned in subsection (1) is entitled to a credit equal to the penalty amount.
Remission
(3) If the Commissioner remits the whole or a part of the amount of penalty under section 298‑20 that has been paid to the Commissioner by the entity:
(a) any credit that relates to the amount is reduced by the amount that is remitted; and
(b) the Commissioner must pay to the entity an amount equal to the amount that is remitted.