Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If:
(a) a parent makes an income election to which subsection 60(2) applies; and
(b) the Registrar is satisfied that the amount worked out under that subsection is less than the amount that the Registrar considers is likely to be the parent's actual adjusted taxable income for the year of income to which the income election relates;
the Registrar may refuse to accept the income election.
(2) The Registrar may refuse to accept a parent's income election to which subsection 60(3) applies if the Registrar is satisfied that:
(a) the partial year income amount for the income election is less than the amount that the Registrar considers is likely to be the parent's actual adjusted taxable income for the remaining period in relation to the income election; or
(b) the total of the income component amounts estimated by the parent under paragraph 60(3)(b) for the period referred to in that paragraph is more than the amount that the Registrar considers is likely to be the total of the actual income component amounts for the parent for that period.
(3) If:
(a) a parent makes an election under subsection 62A(1); and
(b) the Registrar is satisfied that the partial year income amount for the income election is less than the amount that the Registrar considers is likely to be the parent's actual adjusted taxable income for the remaining period in relation to the income election;
the Registrar may refuse to accept the income election.
(4) In making the decision as to whether to refuse to accept the income election, the Registrar:
(a) may act on the basis of information that the Registrar has received or obtained as to the financial circumstances of the parent; and
(b) may, but is not required to, conduct an inquiry into the matter.
(5) Except for the purposes of Parts VII, VIIA and VIII of the Registration and Collection Act (dealing with objections and appeals), if the Registrar refuses to accept the income election, the election is taken never to have been made.