CA ANZ recently provided feedback on this draft Standard Practice Statement (SPS) that sets out how the Commissioner will exercise her discretion under s 113 of the Tax Administration Act 1994 to amend assessments to ensure their correctness.
The draft SPS is broadly the same as SPS 16/01 but has been updated to show how the following legislative changes interact with s 113:
- an amendment request made by a taxpayer using MyIR to modify an existing return;
- an amendment of income information by a qualifying individual (i.e. a person who only has reportable income) pre or post assessment; and
- correcting minor errors in a future return.
We are pleased the SPS is being updated to cover the above items.
Fairness is an important factor in supporting voluntary compliance. As a result, CA ANZ believe that the Commissioner should consider all requests irrespective of whether the s 113 requests results in tax payable or a tax refund.