Taxation Administration Act 1953
Note: See section 3AA .Chapter 4 - Generic assessment, collection and recovery rules
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.
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.
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.
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.
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.
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