SCHEDULE 1 - Savings and trans SCHEDULE 1 - Savings and transitional

Section 120

1.   Tax officers

The person holding office as Commissioner of Pay-roll Tax immediately before the commencement day continues, on that day, as Commissioner of State Revenue under this Act.

2.   Assessments

(1) Part 3 applies to the assessment of a tax liability whether the liability arises before, on or after the commencement day.

(2) An assessment made under a taxation law before the commencement day is taken, on that day, to have been made under this Act.

3.   Refunds

(1) Part 4 applies to the refund or recovery of tax paid before the commencement day.

(2) Part 4 does not apply to an application for a refund made but not determined before the commencement day.

4.   Interest

(1) Interest in respect of a tax default that occurred before the commencement day accrues from that day in accordance with Division 1 of Part 5 .

(2) The Commissioner may remit interest in respect of any interest that accrued under a taxation law before the commencement day.

5.   Penalty tax

(1) Division 2 of Part 5 does not apply to a tax default that occurred before the commencement day.

(2) The Commissioner may remit penalty tax in respect of any penalty tax imposed on a taxpayer by a taxation law before the commencement day.

(3) [Schedule 1 Amended by No. 6 of 2002, Sched. 2, Applied:30 May 2002] If a tax default occurred under a taxation law before the commencement day –