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 4-50 - RELEASE FROM PARTICULAR LIABILITIES  

Division 342 - Commissioner ' s power relating to proceeds of crime proceedings  

Subdivision 342-A - Power to waive right to payment of tax-related liabilities  

SECTION 342-10   POWER TO WAIVE RIGHT TO PAYMENT OF TAX-RELATED LIABILITY  

342-10(1)  
The Commissioner may waive the Commonwealth ' s right to payment of all or part of a *tax-related liability if the Commissioner is satisfied that:

(a) the waiver will facilitate the starting, conduct or ending (by settlement or otherwise) of proceedings under the Proceeds of Crime Act 2002 ; and

(b) the liability is connected with circumstances associated with the proceedings.

Note:

The Commissioner may waive the right to payment only after the liability has arisen, but may do so whether or not the liability is due and payable.

Example:

A liability is connected with circumstances associated with the proceedings if the liability arose because of activities constituting an offence to which the proceedings relate.

342-10(2)  
In deciding whether to waive the right, the Commissioner must consider:

(a) the amount the Commonwealth will forgo as a result of the waiver and the time the Commonwealth could reasonably be expected to receive that amount apart from the waiver; and

(b) the amount the Commonwealth could reasonably be expected to receive as a result of the proceedings and the time the Commonwealth could reasonably be expected to receive that amount.

342-10(3)  
Subsection (2) does not limit the matters that the Commissioner may consider in making the decision. Extended operation of this section

342-10(4)  
This section (except this subsection) applies in relation to a pecuniary liability to the Commonwealth that arises directly under a *taxation law, but is not a *tax-related liability, in the same way as this section applies in relation to a tax-related liability.

Example:

This section applies to a civil penalty under Division 290 (which penalises certain conduct involving promotion of schemes) in the same way as this section applies to a tax-related liability.