55Interest or penalty not to be deducted from unclaimed money payable to an owner or the Registrar

55 Interest or penalty not to be deducted from unclaimed money payable to an owner or the Registrar A business or trustee is not entitled to deduct the amount of any interest or penalty payable under this Part from the amount of unclaimed money payable to any owner or the Registrar. Part 5—Objections, reviews and appeals Division 1—Objections, reviews and appeals 56 Objections (1) A business or trustee that has been the subject of an assessment or reassessment under Division 2 of Part 4, or that is affected by a decision made by the Registrar under section 30, may lodge a written objection with the Registrar if the business or trustee is dissatisfied with the Registrar's assessment, reassessment or decision. S. 56(1A) inserted by No. 24/2025 s. 35(1). (1A) A person to whom a repayment notice is issued may lodge a written objection with the Registrar if the person is dissatisfied with the decision to issue the notice. (2) The grounds for the objection must— (a) be stated fully and in detail; and (b) be in writing. (3) The grounds for the objection, in the case of a reassessment, may only relate to an amount payable specified in the reassessment to the extent that it is additional to, or greater than, the amount payable under the previous assessment or reassessment. (4) On an objection, the objector has the onus of proving the objector's case. (5) The objection must be lodged with the Registrar within 60 days after— (a) service of the notice of assessment or reassessment on the objector; or S. 56(5)(b) amended by No. 24/2025 s. 35(2)(a). (b) service of the notice of decision made under section 30 on the objector; or S. 56(5)(c) inserted by No. 24/2025 s. 35(2)(b). (c) service of the repayment notice on the objector. S. 56(6) amended by No. 24/2025 s. 35(3). (6) If the Registrar is satisfied that the business or trustee or the person has a reasonable excuse for failing to lodge the objection within the 60 day period, the Registrar may extend the time for lodging the objection. (7) An objection is taken to have been lodged with the Registrar when it is received by the Registrar.