Commonwealth Numbered Acts

SUPERANNUATION CONTRIBUTIONS TAX (ASSESSMENT AND COLLECTION) ACT 1997 No. 70, 1997 - SECT 19

Application
19. (1) This section applies if:

   (a)  after the making of an assessment of surcharge on a member's
        surchargeable contributions for a financial year:

        (i)    the member's adjusted taxable income for the financial year is
               increased or reduced and the increase or reduction affects a
               person's liability to pay the surcharge; or

        (ii)   the amount of the contributions is greater or less than the
               amount that was taken to be the amount of the contributions for
               the purposes of the assessment; or

        (iii)  the Commissioner is required or permitted under any other
               provision of this Act to amend the assessment; and

   (b)  the person to whom the assessment was directed is still the holder of
        the surchargeable contributions.

Additional application

(2) This section also applies if:

   (a)  under an assessment of surcharge on a member's surchargeable
        contributions for a financial year, the rate of surcharge that applies
        to the member on particular surchargeable contributions for the
        financial year was assessed to be nil because paragraph 5(3)(e) of the
        Superannuation Contributions Tax Imposition Act 1997 applied to the
        member; and

   (b)  the rate of surcharge that applies to the member on these
        contributions for that financial year is afterwards determined to be
        greater than nil; and

   (c)  the person to whom the nil assessment was directed is still the holder
        of the contributions.

Commissioner may amend assessment

(3) The Commissioner may amend the assessment to take account of any matter
referred to in subparagraph (1)(a)(i), (ii) or (iii) or paragraph (2)(c).

Amendment increasing surcharge

(4) If, as a result of the amendment of the assessment, the amount of
surcharge is increased, then, subject to section 16, the amount of the
increase is payable within 1 month after the day on which the assessment is
amended.

Amendment reducing surcharge

(5) If:

   (a)  as a result of the amendment of the assessment, the amount of
        surcharge is reduced; and

   (b)  the amount previously assessed to be paid has been paid; the amount by
        which the surcharge is reduced is to be paid to the holder of the
        surchargeable contributions.