246T
In forceLimitation period does not apply for particular reassessments
Chapter 4AWindfall duty
Part 5Provisions for administering windfall duty
246T Limitation period does not apply for particular reassessments
(1)
This section applies if—
(a)
invalid AFAD is purportedly imposed on a relevant transaction; and
(b)
a person makes a claim for an AFAD windfall in relation to the transaction.
(2)
Despite the Administration Act, section 21, a reassessment to decrease the person’s liability for the invalid AFAD to nil may be made at any time.
This Act’s bill:Explanatory memorandum
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