142DDue date for repayment of excess refund or credit of tax

1. Where the Commissioner is satisfied that a credit of tax (excess tax credit) allowed or credited under a tax law is in excess of the amount properly allowable or able to be credited under that tax law and the excess tax credit has been paid as a refund, the amount of the excess shall be repayable and due on the later of—

2. the day specified by the Commissioner in the notice to the person requiring payment of the refund to the Commissioner; and
3. 30 days after the date of that notice.

4. If—

5. the Commissioner refunds too much tax to a taxpayer or credits a taxpayer with the payment of too much tax; and
6. a tax law provides for that tax to be repayable to the Commissioner on a set date or on a date to be specified by the Commissioner; and
7. the Commissioner considers that applying that tax law may prejudice the Commissioner's ability to recover that tax,—
tax is repayable to the Commissioner on the date specified by the Commissioner in a notice to the taxpayer given under this section.