Treasury Laws Amendment (2018 Measures No. 4) Act 2019 (8 of 2019)

Schedule 8   Miscellaneous amendments

Part 5   Offshore information notices

Register of Foreign Ownership of Water or Agricultural Land Act 2015

15   Section 33

Repeal the section, substitute:

33 Offshore information notices for persons who may have obligations under Part 3 or Part 3B

For the purposes of this Act, Subdivision 353-B in Schedule 1 to the Taxation Administration Act 1953 applies as if a reference in that Subdivision to an assessment of tax-related liability of a person were a reference to the determination of either or both of the following:

(a) whether a person has or had an obligation under Part 3 or 3B of this Act;

(b) whether a person has complied with an obligation the person has or had under Part 3 or 3B of this Act.

Note 1: Subdivision 353-B in Schedule 1 to the Taxation Administration Act 1953:

(a) lets the Commissioner give a person an offshore information notice requesting the person to give the Commissioner information, or a document, that is outside Australia and that the Commissioner believes is relevant to an assessment of the person; and

(b) sets out the consequences if the person does not comply with the request.

Note 2: Subdivision 353-A in Schedule 1 to the Taxation Administration Act 1953 also gives the Commissioner power to require a person to give the Commissioner information or documents for the administration of this Act.