Taxation Administration Act 1953
SCHEDULE 1
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COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES
The Commissioner may at any time reduce the amount of the estimate, but is not obliged to consider whether or not to do so. 268-35(2)
If the Commissioner reduces the amount of the estimate under subsection (1), he or she must give you a written notice that:
(a) identifies the underlying liability; and
(b) sets out the reduced amount of the estimate.
The Commissioner may at any time revoke the estimate, but is not obliged to consider whether or not to do so. 268-35(4)
If the Commissioner revokes the estimate under subsection (3), he or she must give you a written notice that:
(a) identifies the underlying liability; and
(b) states that the estimate has been revoked.
In exercising his or her power under this section to reduce the amount of the estimate, or to revoke the estimate, the Commissioner must have regard to:
(a) the following principles:
(b) the effects of sections 268-55 and 268-70 (effect of reduction or revocation on liabilities).
Note: See section 3AA .
Chapter 4 - Generic assessment, collection and recovery rules
PART 4-15
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COLLECTION AND RECOVERY OF TAX-RELATED LIABILITIES AND OTHER AMOUNTS
Division 268
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Estimates
Subdivision 268-D
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Reducing and revoking estimates
SECTION 268-35
HOW ESTIMATE MAY BE REDUCED OR REVOKED
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COMMISSIONER
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S POWERS
Reduction
268-35(1)
The Commissioner may at any time reduce the amount of the estimate, but is not obliged to consider whether or not to do so. 268-35(2)
If the Commissioner reduces the amount of the estimate under subsection (1), he or she must give you a written notice that:
(a) identifies the underlying liability; and
(b) sets out the reduced amount of the estimate.
Note:
The estimate is taken always to have had effect as reduced: see section 268-55 .
Revocation 268-35(3)The Commissioner may at any time revoke the estimate, but is not obliged to consider whether or not to do so. 268-35(4)
If the Commissioner revokes the estimate under subsection (3), he or she must give you a written notice that:
(a) identifies the underlying liability; and
(b) states that the estimate has been revoked.
Note:
The estimate is taken never to have been made: see section 268-55 .
Matters for Commissioner to consider 268-35(5)In exercising his or her power under this section to reduce the amount of the estimate, or to revoke the estimate, the Commissioner must have regard to:
(a) the following principles:
(i) the estimate is of the unpaid amount of the underlying liability as at a particular time;
(ii) the purpose of reducing the amount of the estimate is to bring it closer to the unpaid amount of the underlying liability as at the time the estimate was made;
(iii) reductions of the unpaid amount of the underlying liability that happen after the time the estimate was made are dealt with by section 268-20 (Nature of liability to pay estimate) and so should not be taken into account in exercising such a power; and
(b) the effects of sections 268-55 and 268-70 (effect of reduction or revocation on liabilities).
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