TAXATION ADMINISTRATION ACT 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 4 - Generic assessment, collection and recovery rules  

PART 4-50 - RELEASE FROM PARTICULAR LIABILITIES  

Division 340 - Commissioner ' s power in cases of hardship  

Operative provisions  

SECTION 340-20   EXTINGUISHING YOUR LIABILITY TO PAY A FRINGE BENEFITS TAX INSTALMENT IF YOU ARE RELEASED  

340-20(1)  
This section applies if the Commissioner releases you from a liability to pay an instalment of fringe benefits tax.

340-20(2)  
If your liability to pay the instalment is released in whole, you are taken, for the purposes of Division 2 of Part VII of the Fringe Benefits Tax Assessment Act 1986 , not to be liable to pay the instalment.

Note:

This means that for the purposes of section 105 of that Act you are not entitled to a credit for the instalment.

340-20(3)  
If your liability to pay the instalment is released in part, you are taken, for the purposes of Division 2 of Part VII of the Fringe Benefits Tax Assessment Act 1986 , to be liable to pay the instalment to the extent to which your liability has not been released.

Note:

This means that for the purposes of section 105 of that Act you are entitled to a credit for the instalment to the extent to which your liability to pay the instalment has not been released.




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