“(1) A person allowed a rebate under section KC 4 or section KC 5 of the Income Tax Act 1994 may apply to the Commissioner for one or more refunds.
“(2) The total amount of the refunds must not exceed the annual amount of the rebates allowed.
“(3) The sum of the qualifying payments under section KC 4 of the Income Tax Act 1994 and gifts under section KC 5 of the Income Tax Act 1994 must not exceed a taxpayer’s taxable income in the immediately preceding income year.
“(4) If subsection (3) applies, the Commissioner must, in equal portions, reduce the total amount of qualifying payments and gifts so that the total does not exceed the taxpayer’s taxable income in the immediately preceding income year.
“(5) An application under subsection (1) must be made in the manner required by the Commissioner, be signed by the person, and be accompanied by any information the Commissioner requires, including—
“(6) Despite subsection (1), the Commissioner must not refund a rebate unless an application that complies with subsections (2) and (3) is received by the Commissioner—
“(7) When the Commissioner has considered an application for a rebate, the Commissioner must, by notice, inform the taxpayer of the amount of the rebates allowed under section KC 4 or section KC 5 of the Income Tax Act 1994 and of the amount of refund allowed.
“(8) No rebate may be refunded to an absentee, or a company, or a public authority, or a Maori Authority, or an unincorporated body, or a trustee assessable and liable for income tax under sections HH 3, HH 6, HK 14, or HZ 2 of the Income Tax Act 1994.
“(9) A refund allowed under subsection (1) must be paid as if it were tax paid in excess.
“(10) A refund allowed under subsection (1), to the extent it exceeds the correct amount of refund, is recoverable as an excess credit of tax under section 142D.
“(11) Part VII does not apply to a refund or an excess refund made under this section.
“(12) Part IX applies to applications made under this section.”