INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART VI - COLLECTION AND RECOVERY OF TAX  

Division 3 - Provisional tax  

Subdivision A - General provisions  

SECTION 221YCB   REDUCTION OF AMOUNT OF INSTALMENT OF PROVISIONAL TAX  

221YCB(1)   [Commissioner's discretion]  

The Commissioner may, having regard to laws relating to taxation that:

(a) have been enacted, or, in the opinion of the Commissioner, are likely to be enacted, by the Parliament; and

(b) alter, or, in the opinion of the Commissioner, are likely to alter, the amount of income tax which a taxpayer is liable to pay in respect of income of a year of income;

determine that the amount that, apart from this subsection and subsection 221YBA(4) , would be payable by the taxpayer as an instalment of provisional tax for the year of income shall be reduced by such amount as the Commissioner thinks appropriate.

221YCB(2)   [Commissioner's powers]  

Nothing in this section limits the Commissioner's powers under section 221YDC or 221YG .