Income Tax Assessment Act 1997

Div 402 repealed by No 84 of 2013, s 3 and Sch 8 item 32, effective 28 June 2013.

Div 402 inserted by No 42 of 2009, s 3 and Sch 4 item 10, effective 23 June 2009.

Subdiv 402-W repealed by No 84 of 2013, s 3 and Sch 8 item 32, effective 28 June 2013.

Subdiv 402-W inserted by No 42 of 2009, s 3 and Sch 4 item 10, effective 23 June 2009.

S 402-770 repealed by No 84 of 2013, s 3 and Sch 8 item 32, effective 28 June 2013. S 402-770 formerly read:

SECTION 402-770 Revoking certificates  
Revoking certificates

402-770(1)
The *Water Minister may revoke a certificate issued to a company under section 402-760.

402-770(2)
However, the *Water Minister may only do so in the circumstances provided for in the guidelines made under section 402-780.

402-770(3)
If the *Water Minister revokes the certificate, he or she must, within 30 days, give to the company and to the Commissioner:

(a) written notice of the revocation; and

(b) written reasons for the decision to revoke the certificate.

402-770(4)
The notice given to the company must explain that the company may apply to the *AAT for review of the *Water Minister ' s revocation of the certificate (see section 402-775).

Revoked certificates taken never to have been issued

402-770(5)
If the *Water Minister revokes a certificate under this section, the certificate is taken, for the purposes of this Subdivision, never to have been issued.

402-770(6)
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment for the purpose of giving effect to this Subdivision for an income year if:

(a) a certificate issued to a company is revoked under this section after the time the company lodged its *income tax return for the income year; and

(b) the amendment is made at any time during the period of 4 years starting immediately after the revocation of the certificate.

Note:

Section 170 of the Income Tax Assessment Act 1936 specifies the usual period within which assessments may be amended.

Certificates cannot be varied

402-770(7)
A certificate issued under section 402-760 cannot be varied.

S 402-770 inserted by No 42 of 2009 , s 3 and Sch 4 item 10, effective 23 June 2009.