Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 222AGE

                   In exercising a power under subsection 222AGC(2) or 222AGD(2), the Commissioner is to have regard to the following:

                     (a)  an estimate is of the unpaid amount of a liability as at a particular time;

                     (b)  the purpose of reducing the amount of the estimate is to bring it closer to the unpaid amount of the underlying liability as at that time, and so bring the unpaid amount of the estimate closer to the unpaid amount of the underlying liability as at the time of the reduction;

                     (c)  reductions in the unpaid amount of the underlying liability that happen after the time as at which the estimate was made are dealt with by section 222AHA and so should not be taken into account in exercising such a power;

                     (d)  the effects of Subdivision F.