TAXATION ADMINISTRATION ACT 1953
Note: See section 3AA .Chapter 5 - Administration
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.
[ CCH Note: S 389-25(1) will be amended by No 8 of 2019, s 3 and Sch 3 item 15, by substituting " item 1, 2 or 2A " for " item 1 or 2 " , effective the later of: (a) the day after this Act receives the Royal Assent; and (b) immediately after the commencement of Schedule 2 to the Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No. 2) Act 2019 . However, the provisions do not commence at all if the event mentioned in paragraph (b) does not occur. For application provision, see note under s 389-5(1) .]
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.