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 4-15 - COLLECTION AND RECOVERY OF TAX-RELATED LIABILITIES AND OTHER AMOUNTS  

Division 268 - Estimates  

Subdivision 268-D - Reducing and revoking estimates  

SECTION 268-35   HOW ESTIMATE MAY BE REDUCED OR REVOKED - COMMISSIONER ' 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(b) states that the estimate has been revoked.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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