Taxation Administration Act 1953
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Hide history noteNote: See section 3AA .
Chapter 4 - Generic assessment, collection and recovery rulesThe Commissioner may require you to give security for the due payment of an existing or future *tax-related liability of yours if:
(a) the Commissioner has reason to believe that:
(i) you are establishing or *carrying on an *enterprise in Australia; and
(ii) you intend to carry on that enterprise for a limited time only; or
(b) the Commissioner reasonably believes that the requirement is otherwise appropriate, having regard to all relevant circumstances.
Note:
A requirement to give security under this section is not a tax-related liability. As such, the collection and recovery provisions in this Part do not apply to it.
255-100(2)
The Commissioner may require you to give the security:
(a) by way of a bond or deposit (including by way of payments in instalments); or
(b) by any other means that the Commissioner reasonably believes is appropriate.
255-100(3)
The Commissioner may require you to give security under this section:
(a) at any time the Commissioner reasonably believes is appropriate; and
(b) as often as the Commissioner reasonably believes is appropriate.
Example:
The Commissioner may require additional security if he or she reasonably believes that the original security requirement underestimated the amount of the likely tax-related liability.
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