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  • ATO's discretion

    To ensure the integrity of the values used, we have the discretion to substitute an appropriate value where we consider that the entity has either overvalued its assets or undervalued its liabilities.

    As the exercise of this power may directly affect an entity's assessment, an entity that is dissatisfied with our decision to substitute a value may object to the decision under Part IVC of the Taxation Administration Act 1953.

    See also:

    Last modified: 09 Mar 2016QC 48213