Document ID: chunk:federal_register_of_legislation:C2020C00204:clause:8_2
Version: federal_register_of_legislation:C2020C00204
Segment Type: clause
Provision Reference: sch 8 cl 2
Character Range: 55035–55944

2  Subitem 15(3) of Schedule 1
Repeal the subitem, substitute:

Reporting of Lower Value Accounts
(3) For the purposes of (and without limiting) subsections 396‑105(1) and (2) in Schedule 1 to the Taxation Administration Act 1953, as amended by this Schedule, an account maintained by a Reporting Financial Institution at any time in the 2018 calendar year is treated as being a Reportable Account (within the meaning of the CRS) at that time if the account:
 (a) is a Lower Value Account (within the meaning of the CRS); and
 (b) has not been included in a statement under subsection 396‑105(2) in that Schedule for the 2017 calendar year; and
 (c) at that time, would be a Reportable Account (within the meaning of the CRS) if the Reporting Financial Institution applied the due diligence procedures described in the CRS in relation to the account at that time.

Part 3—Road user charge

Fuel Tax Act 2006