SALES TAX ASSESSMENT ACT 1992 (Repealed)

PART 8 - AVOIDANCE SCHEMES, NON-ARM'S LENGTH TRANSACTIONS ETC.

Division 1 - Avoidance schemes

SECTION 93A (Repealed by 101 of 2006)   COMMISSIONER MAY CANCEL TAX BENEFITS OBTAINED UNDER SCHEMES TO WHICH THIS DIVISION APPLIES  

93A(1)  [Commissioner may cancel tax benefit]  

If a taxpayer obtains a tax benefit under a scheme to which this Division applies, the Commissioner may make an assessment that cancels the tax benefit.

93A(2)  [Compensating adjustments]  

The Commissioner may, in the assessment, do all or any of the following:

(a)  determine, for the purpose of cancelling the tax benefit, that particular things are to be treated as not having happened;

(b)  determine, for the purpose of cancelling the tax benefit, that particular things are to be treated as having been done by a different person or to have happened at a different time;

(c)  determine, for the purpose of cancelling the tax benefit, that particular things that did not actually happen are to be treated as having happened and, where appropriate:

(i) to have been done by a particular person; or

(ii) to have happened at a particular time.

93A(3)  [Amount payable]  

An amount that is payable by a taxpayer because of the cancellation of an entitlement to a credit is to be treated as if it were an amount of tax payable by the taxpayer. [The main effect of treating the amount as if it were tax is to apply the collection and recovery rules in Part 5.]

93A(4)  [Notice of assessment]  

Notice of the assessment may be included in any other notice of assessment under this Act that relates to the same person.

93A(5)  [Due date for payment]  

An amount payable under an assessment that is made under this section becomes due for payment on the day specified in the notice of assessment. The day must be at least 14 days after the date of issue of the assessment.