Australian Capital Territory Numbered Acts Australian Capital Territory Numbered Acts30. (1) This section applies to a Territory owned corporation or subsidiary that, by reason only of being owned by or on behalf of the Territory, is not required to pay a tax under a law of the Commonwealth that deals with taxation or imposes a tax (in this section referred to as an “equivalent law”).
(2) Subject to this section, a company to which this section applies shall pay to the Territory an amount (in this section referred to as a “Commonwealth tax equivalent”) equivalent to the tax that it would be liable to pay under an equivalent law if it were not such a company.
(3) The Commissioner may, at any time, make an assessment of the Commonwealth tax equivalent payable by a company.
(4) The Commissioner may, at any time, amend an assessment by making such alterations or additions as he or she thinks necessary, notwithstanding that the Commonwealth tax equivalent may have been paid in respect of the assessment.
(5) An amended assessment is an assessment for the purposes of this or any other Act.
(6) The Commissioner shall, within 14 days after making an assessment, give a copy of the assessment to the company to which the assessment has issued.
(7) A document purporting to be a copy of an assessment is evidence—
(a) of the due making of the assessment; and
(b) except in proceedings by way of review of the assessment or the process of making it—of the Commonwealth tax equivalent payable by the company to which the assessment has issued.
(8) Subject to this section, payment of a Commonwealth tax equivalent shall be made on such terms as the Commissioner determines.
(9) A Territory owned corporation that is dissatisfied with an assessment or determination of the Commissioner may request the Commissioner to refer it to the Treasurer.
(10) The Treasurer may, in writing, vary an assessment or determination that has been referred to him or her under subsection (9).
(11) An assessment or determination varied by the Treasurer has effect as varied.
(12) For the purposes of performing a function under this section the Commissioner has all the powers, and may exercise any discretions, that, by any law of the Commonwealth, are vested in the authority or officer administering the equivalent law.
(13) A company to which this section applies shall furnish to the Commissioner all the information, returns or documents that, if it were not such a company, it would be obliged under a law of the Commonwealth to furnish to the authority or officer administering the equivalent law.
(14) The information, returns and documents referred to in subsection (13) shall be furnished in such a manner and within such times as they would be required to be furnished under the law of the Commonwealth.
(15) The Treasurer may by instrument declare that a provision of a law of the Commonwealth is not to be an equivalent law in respect of—
(a) a company; or
(b) all companies;
to which this section applies.
(16) A declaration under subsection (15) is a disallowable instrument for the purposes of section 10 of the Subordinate Laws Act 1989 .
(17) A provision that is the subject of a declaration under subsection (15) is not an equivalent law for the purposes of this section.
(18) In this section—