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 342-5   342-5   OBJECT OF THIS SUBDIVISION  


The object of this Subdivision is to facilitate the starting, conduct and ending of proceedings under the Proceeds of Crime Act 2002 by allowing the Commissioner to waive the right to payment of certain liabilities to the Commonwealth arising under *taxation laws.
Note:

The Commissioner may also exercise other powers so as to facilitate the starting, conduct and ending of proceedings under the Proceeds of Crime Act 2002 . Examples of those other powers include:

  • (a) the power under section 255-10 to defer the time a tax-related liability is due and payable; and
  • (b) the power under section 8AAG to remit general interest charge.



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