TAXATION ADMINISTRATION ACT 1953

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

Note: See section 3AA .

Chapter 5 - Administration  

PART 5-25 - RECORD-KEEPING AND OTHER OBLIGATIONS RELATING TO TAXPAYERS  

Division 389 - Reporting by employers  

Guide to Division 389  

SECTION 389-25   GRACE PERIODS FOR CORRECTING FALSE OR MISLEADING NOTIFICATIONS   When notifications can be corrected

389-25(1)  


An entity that has made a statement (a withholding statement ) under section 389-5 notifying an amount under item 1 or 2 of the table in subsection 389-5(1) (and no other item in that table) may correct the statement:


(a) within the period determined by the Commissioner under subsection (2); or


(b) if paragraph (a) does not apply but the entity is covered by a determination under subsection (5) - within the period specified in that determination.

Note:

Correcting the statement can protect the person from liability for a false or misleading withholding statement: see subsections 8K(2A) , 8N(2) and 284-75(8) .

Determinations for particular entities

389-25(2)  
The Commissioner may determine the period within which the entity may correct a withholding statement.

389-25(3)  
The Commissioner must give the entity written notice of the determination.

389-25(4)  
The entity may object, in the manner set out in Part IVC , against a decision of the Commissioner determining a period under subsection (2) relating to the entity. Determinations for classes of entities

389-25(5)  
The Commissioner may, by legislative instrument, determine the period within which entities included in a class of entities specified in the determination may correct a withholding statement.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.