A taxpayer's appeal to the Federal Court against an objection decision on a tax assessment does not constitute an 'off-setting claim' under s 459H(1)(b) of the Corporations Act 2001 because it is at best a contingent claim for a refund, not a present monetary claim capable of quantification. However, the existence of an arguable appeal that would, if successful, eliminate the bulk of the amount claimed in a statutory demand constitutes 'some other reason' for setting aside the demand under s 459J(1)(b). A statutory demand set aside under s 459J cannot be varied to require payment of undisputed amounts only; it must be set aside in its entirety.
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