Taxation Administration Act 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 3 - Collection, recovery and administration of other taxes  

PART 3-18 - AUSTRALIAN IIR/UTPR TAX AND AUSTRALIAN DMT TAX  

Division 127 - General provisions relating to Australian IIR/UTPR tax and Australian DMT tax  

Subdivision 127-B - When taxes are due and payable etc.  

Operative provisions

SECTION 127-75   ASSESSMENTS OF AUSTRALIAN IIR/UTPR TAX AND AUSTRALIAN DMT TAX  

127-75(1)    
In applying Division 155 in relation to an amount of * Australian IIR/UTPR tax or * Australian DMT tax, apply the provisions of that Division with the modification set out in subsection (2) of this section.

127-75(2)    
Despite subsection 155-35(2) , the period of review , for an assessment of an amount of *Australian IIR/UTPR tax for a *Fiscal Year, is:

(a)    the period of 4 years starting on the later of:

(i) the day on which the * GloBE Information Return for the relevant * Applicable MNE Group for the Fiscal Year is given to the Commissioner; and

(ii) the day on which the * Australian IIR/UTPR tax return for the relevant * Group Entity for the Fiscal Year is given to the Commissioner; or

(b)    if the period of review is extended under subsection 155-35(3) or (4) - the period as so extended.

127-75(3)    
Despite subsection 155-35(2) , the period of review , for an assessment of an amount of * Australian DMT tax for a * Fiscal Year, is:

(a)    the period of 4 years starting on the later of:

(i) the day on which the * GloBE Information Return for the relevant * Applicable MNE Group for the Fiscal Year is given to the Commissioner; and

(ii) the day on which the * Australian DMT tax return for the relevant * Group Entity for the Fiscal Year is given to the Commissioner; or

(b)    if the period of review is extended under subsection 155-35(3) or (4) - the period as so extended.