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 268-55   WHEN REDUCTION OR REVOCATION TAKES EFFECT  

Scope

268-55(1)  
This section applies for the purposes of the following:


(a) Subdivision 268-C (Liability to pay estimates);


(b) section 268-60 (refund of overpayments);


(c) Subdivision 268-E (Late payment of estimates);


(d) Division 269 (Penalties for directors of non-complying companies). When reduction or revocation takes effect

268-55(2)  
If the amount of the estimate is reduced, the estimate has effect, and is taken always to have had effect, as if the original amount of the estimate had been the reduced amount.

268-55(3)  
If the estimate is revoked, the estimate is taken never to have been made.




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