Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 3 - Collection, recovery and administration of other taxes  

PART 3-15 - MAJOR BANK LEVY  

Division 117 - Anti-avoidance  

Subdivision 117-B - Commissioner may negate effects of schemes for MBL benefits  

SECTION 117-25   COMMISSIONER MAY NEGATE ENTITY ' S MBL BENEFITS  

117-25(1)  
For the purpose of negating an *MBL benefit the entity mentioned in paragraph 117-10(1)(a) gets or got from the *scheme, the Commissioner may:


(a) make a determination stating the amount that is (and has been at all times) the entity ' s liability for levy under the Major Bank Levy Act 2017 , for a specified *quarter that has ended; or


(b) make a determination stating the amount that is (and has been at all times) a particular amount mentioned in paragraph 5(2)(a) or (b) of that Act, for a specified quarter that has ended.

117-25(2)  
A determination under this section is not a legislative instrument.

117-25(3)  
The Commissioner may take such action as the Commissioner considers necessary to give effect to the determination.


 

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