32Entitlement to refund

32 Entitlement to refund (1) If it appears to the Commissioner that a taxpayer has made an overpayment of tax, the Commissioner must refund to the taxpayer the amount of the overpayment. (1A) If it appears to the Commissioner that an agent, acting on behalf of a taxpayer in accordance with an approval under Part 6, Division 2, has made an overpayment of an amount required to be paid under the approval, the Commissioner may refund to the agent or taxpayer the amount of the overpayment. (1B) If it appears to the Commissioner that an agent has made an overpayment of an amount payable under an agent determination, the Commissioner may refund to the agent the amount of the overpayment. (2) However: (a) if a taxation law provides for a refund on application by the taxpayer, a refund is only to be made, in circumstances to which the relevant provision applies, on such an application; and (b) a refund cannot be made more than 5 years after the overpayment was made except to give effect to a reassessment of the relevant tax liability or a redetermination under section 52C. (3) The Commissioner's decision to make a refund may be based on an assessment of the relevant tax liability or on any other evidence the Commissioner considers sufficient.

Taxation Administration Act 2007 17 (4) The Commissioner may refund the whole or part of the refundable amount by crediting the whole or part of the refundable amount against present or future liabilities of the taxpayer under a taxation law or another law administered by the Commissioner or under which the Commissioner exercises statutory functions. Example for subsection (4) The Commissioner might credit the amount of a refund of stamp duty against a liability of the taxpayer as a member of a payroll tax group. (5) However, an amount is not to be credited against future tax liabilities unless the taxpayer consents.