INCOME TAX ASSESSMENT ACT 1997
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) .
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 974-112(3)
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.974-112(4)
(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 974-112(5)
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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