Reassessment—noncomplying use by primary producer
394 Reassessment—noncomplying use by primary producer
This section applies if—
vehicle registration duty is not paid on an application to register or transfer a vehicle in the name of a primary producer on the basis of an exemption under section 390(1)(i); and
within 5 years after the application to register or transfer the vehicle, the primary producer starts using the vehicle other than in the business of primary production, or sells or otherwise transfers the vehicle.
Within 28 days after the event mentioned in subsection (1)(b) happens, the primary producer must give notice in the approved form to the commissioner.
Note—Failure to give the notice is an offence under the Administration Act, section 120.
The commissioner must make a reassessment to impose vehicle registration duty on the application to register the vehicle as if the exemption from duty had never applied.
Note—Unpaid tax interest and penalty tax may be payable under the Administration Act, part 5.
This Act’s bill:Explanatory memorandum
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