Document ID: chunk:federal_register_of_legislation:C2004A00735:clause:1_20f
Version: federal_register_of_legislation:C2004A00735
Segment Type: clause
Provision Reference: sch 1 cl 20F
Character Range: 125653–126859

20F  ACA to assess eligible revenue

 (1) The ACA must make a written assessment of each participating person's eligible revenue for an eligible revenue period.

Note: The assessment may be included in the same document as any other assessment the ACA makes under this Part (see section 20Y).

 (2) A person's eligible revenue:
 (a) must be assessed as zero if the person's eligible revenue is less than the amount (the threshold amount) determined in writing by the Minister for the purposes of this subsection; or
 (b) in any other case—must be reduced by the threshold amount.

 (3) Subject to section 20G and subsection (2), the assessment must be based on:
 (a) the person's eligible revenue return; and
 (b) the information and documents obtained by the ACA because of its inquiries into the correctness of the return; and
 (c) any other information or documents that the ACA has and that it thinks relevant to making the assessment.

 (4) A determination made for the purposes of subsection (2) is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901.

 (5) The ACA must give a copy of an assessment of a person's eligible revenue to the person concerned.