New South Wales Consolidated Acts

UNCLAIMED MONEY ACT 1995 - SECT 28

28 General power to make assessment

(1) The Chief Commissioner may make an assessment of the liability of an enterprise to pay unclaimed money, or of a public sector superannuation provider to pay unclaimed superannuation benefits, to the Chief Commissioner.

(2) The Chief Commissioner may make one or more assessments of the liability of an enterprise to pay unclaimed money, or of a public sector superannuation provider to pay unclaimed superannuation benefits.

(3) An assessment may be made only if:

(a) the enterprise or public sector superannuation provider fails to lodge a return by the due date, or

(b) the Chief Commissioner is of the opinion that an incorrect return has been lodged by the enterprise or public sector superannuation provider.

(4) An assessment of a liability may consist of a determination that there is not a liability to pay unclaimed money or unclaimed superannuation benefits to the Chief Commissioner.

(5) The Chief Commissioner may withdraw an assessment under this section at any time after the date of written notice of the assessment is given to the relevant enterprise or public sector superannuation provider, whether or not the amount specified in the assessment has been paid.

(6) A notice of assessment issued following a failure to pay the whole or part of money under section 10 (1) or 13B (1) must specify any interest and penalty tax payable.

(7) The validity of an assessment is not affected because a provision of this Act has not been complied with.