Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1936 - SECT 222AHD

Effect of affidavit on estimate

             (1)  This subsection revokes an estimate if subsection 222AHC(2) prevents recovery of the unpaid amount because an affidavit verifies facts sufficient to prove that the underlying liability never existed.

             (2)  If subsection 222AHC(2) prevents recovery of the unpaid amount of an estimate because an affidavit verifies facts sufficient to prove that the underlying liability has been discharged in full, the amount of the estimate is reduced by the unpaid amount of the estimate (immediately before the reduction).

Note:          The effect of subsection (2) is to reduce to a nil amount the unpaid amount of the estimate.

             (3)  While a judgment for an amount is in effect under subsection 222AHC(3), the amount of the estimate is reduced by the amount by which the unpaid amount of the estimate (immediately before the reduction) exceeds the first‑mentioned amount.

Note:          The effect of subsection (3) is to reduce the unpaid amount of the estimate to the amount of the judgment.



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