Taxation Administration Act 1953
View history note
Hide history noteNote: See section 3AA .
Chapter 4 - Generic assessment, collection and recovery rulesThe Commissioner may waive the Commonwealth ' s right to payment of all or part of a *tax-related liability if the Commissioner is satisfied that:
(a) the waiver will facilitate the starting, conduct or ending (by settlement or otherwise) of proceedings under the Proceeds of Crime Act 2002 ; and
(b) the liability is connected with circumstances associated with the proceedings.
Note:
The Commissioner may waive the right to payment only after the liability has arisen, but may do so whether or not the liability is due and payable.
Example:
A liability is connected with circumstances associated with the proceedings if the liability arose because of activities constituting an offence to which the proceedings relate.
342-10(2)
In deciding whether to waive the right, the Commissioner must consider:
(a) the amount the Commonwealth will forgo as a result of the waiver and the time the Commonwealth could reasonably be expected to receive that amount apart from the waiver; and
(b) the amount the Commonwealth could reasonably be expected to receive as a result of the proceedings and the time the Commonwealth could reasonably be expected to receive that amount.
342-10(3)
Subsection (2) does not limit the matters that the Commissioner may consider in making the decision.
Extended operation of this section
342-10(4)
This section (except this subsection) applies in relation to a pecuniary liability to the Commonwealth that arises directly under a *taxation law, but is not a *tax-related liability, in the same way as this section applies in relation to a tax-related liability.
Example:
This section applies to a civil penalty under Division 290 (which penalises certain conduct involving promotion of schemes) in the same way as this section applies to a tax-related liability.
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