Taxation Administration Act 1996

The Commissioner may, if the Commissioner considers it appropriate to do so to settle a dispute or to avoid undue delay or expense or for some other reason, make an assessment of a tax liability in accordance with a written agreement between the Commissioner and the taxpayer.

If the Commissioner has made an assessment of a tax liability of a taxpayer under this section, the Commissioner cannot make a reassessment of the taxpayer's liability except—

with the agreement of the taxpayer; or

where the assessment under this section was procured by fraud or there was a deliberate failure to disclose material information.

An assessment or reassessment made under this section with the agreement of a taxpayer (a compromise assessment) is a non-reviewable decision.