Division 974 - Debt and equity interests  

Subdivision 974-D - Common provisions  

SECTION 974-112   Determinations by Commissioner  

Determinations covered by this section

This section covers a determination by the Commissioner under any of the following provisions:

(a) subsection 974-15(4) ;

(b) subsection 974-60(3) , (4) or (5);

(c) section 974-65 ;

(d) subsection 974-70(4) ;

(e) subsection 974-150(1) .

Determination on own initiative or on application

The Commissioner may make a determination covered by this section:

(a) on his or her own initiative; or

(b) on an application made under subsection (3). Application for determination

An entity may apply to the Commissioner for a determination covered by this section in relation to:

(a) an interest of which the entity is the issuer; or

(b) an interest of which the entity would be the issuer:

(i) if the determination were made; or

(ii) if the determination were not made.

Paragraph (b) may apply, for example, if the effect of the determination applied for would be to allow, or to prevent, a number of related schemes giving rise to a debt interest or an equity interest.

The application:

(a) must be in writing; and

(b) must set out the grounds on which the applicant thinks the determination should be made; and

(c) must set out any information relevant to deciding whether to make the determination. Review of determinations

A taxpayer who is dissatisfied with a determination covered by this section may object against the determination in the manner set out in Part IVC of the Taxation Administration Act 1953 .


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