Section 32
Section 32
Section 50 of the principal Act is amended by inserting after subsection (3) the following subsections:
“(4) Any amount of excess in respect of tax payable for a year of assessment which is to be refunded to a person under subsection (1) may be utilized by the Director General for the payment of any other amount of tax which is due and payable
(including any amount of instalments which are due and payable)
by that person under this Act, or under the Income Tax Act 1967
or the Real Property Gains Tax Act 1976.
(5)
Where amount of excess in respect of a person is ascertained in accordance with subsection 111(4a) of the Income Tax Act 1967
or subsection 24(7a) of the Real Property Gains Tax Act 1976
such excess shall be applied for the payment of tax which is due and payable (including any amount of instalments which are due and payable) by that person under this Act.”.
Act 719