268-25
CurrentAccuracy of estimate irrelevant to liability to pay
Volume 2Schedule 1, Chapter 2, Part 2-10 to Chapter 4, Part 4-25 (sections 45-1 to 298-110)
Schedule 1Collection and recovery of income tax and other liabilities
Chapter 4Generic assessment, collection and recovery rules
Part 4-15Collection and recovery of tax‑related liabilities and other amounts
Division 268Estimates
Subdivision 268-CLiability to pay estimates
268-25 Accuracy of estimate irrelevant to liability to pay
You are liable to pay the unpaid amount of the estimate even if:
(a)
the underlying liability never existed or has been discharged in full; or
(b)
the unpaid amount of the underlying liability is less than the unpaid amount of the estimate.
Note 1:
Section 268‑40 revokes the estimate if you give the Commissioner a statutory declaration, or file an affidavit, to the effect that the underlying liability never existed.
Note 2:
Subdivision 268‑D provides ways in which you can challenge the estimate or its amount.
This Act’s bill:Second reading speech
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.