Commonwealth Consolidated Acts Commonwealth Consolidated Acts
A New Tax System (Goods and Services Tax) Act 1999
1 Subsection 17 - 20(2)
Repeal the subsection, substitute:
(2) The matters must relate to correction of errors:
(a) that were made in working out * net amounts to which subsection ( 2A) applies; and
(b) that do not relate to amounts:
(i) that have ceased to be payable by you because of section 105 - 50 in Schedule 1 to the Taxation Administration Act 1953 ; or
(ii) to which, because of section 105 - 55 in that Schedule, you are not entitled.
Note: Paragraph ( 2)(b) will be repealed on 1 January 2017: see Part 2 of Schedule 1 to the Indirect Tax Laws Amendment (Assessment) Act 2012 .
(2A) This subsection applies to a * net amount for a tax period (the earlier tax period ) if:
(a) the earlier tax period precedes the tax period mentioned in subsection ( 1); and
(b) if the earlier tax period started on or after 1 July 2012--the tax period mentioned in subsection ( 1) starts during the * period of review for the * assessment of the * net amount.
2 Section 195 - 1
Insert:
"period of review" , for an * assessment, has the meaning given by section 155 - 35 in Schedule 1 to the Taxation Administration Act 1953 .
3 At the end of Subdivision 60 - A
Add:
60 - 10 Determinations relating to how to work out net fuel amounts
(1) The Commissioner may make a determination that, in the circumstances specified in the determination, a * net fuel amount for a * tax period or a * fuel tax return period may be worked out to take account of other matters in the way specified in the determination.
(2) The matters must relate to correction of errors:
(a) that were made in working out * net fuel amounts to which subsection ( 3) or (4) applies; and
(b) that do not relate to amounts:
(i) that have ceased to be payable by you because of section 105 - 50 in Schedule 1 to the Taxation Administration Act 1953 ; or
(ii) to which, because of section 105 - 55 in that Schedule, you are not entitled.
Note: Paragraph ( 2)(b) will be repealed on 1 January 2017 (see Part 2 of Schedule 1 to the Indirect Tax Laws Amendment (Assessment) Act 2012 ).
(3) This subsection applies to a * net fuel amount for a * tax period (the earlier tax period ) if:
(a) the earlier tax period precedes the tax period mentioned in subsection ( 1); and
(b) if the earlier tax period started on or after 1 July 2012--the tax period mentioned in subsection ( 1) starts during the * period of review for the * assessment of the net fuel amount.
(4) This subsection applies to a * net fuel amount for a * fuel tax return period (the earlier fuel tax return period ) if:
(a) the earlier fuel tax return period precedes the fuel tax return period mentioned in subsection ( 1); and
(b) if the earlier fuel tax return period started on or after 1 July 2012--the fuel tax return period mentioned in subsection ( 1) starts during the * period of review for the * assessment of the net fuel amount.
(5) If th e circumstances mentioned in subsection ( 1) apply in relation to a * tax period or a * fuel tax return period applying to you, you may work out your * net fuel amount for the tax period or fuel tax return period in that way.
4 Section 110 - 5
Insert:
"period of review" , for an * assessment, has the meaning given by section 155 - 35 in Schedule 1 to the Taxation Administration Act 1953 .