Document ID: chunk:federal_register_of_legislation:C2025C00180:clause:1_3:p3
Version: federal_register_of_legislation:C2025C00180
Segment Type: clause
Provision Reference: sch 1 cl 3 (pt 3/8)
Character Range: 1044443–1047161

or an amended assessment); or
 (ii) for a determination under section 133‑25—amending the assessment; and
 (b) give you notice in writing of the determination as soon as practicable after making it.
 (3) The validity of the determination is not affected because any of the provisions of this Act have not been complied with.

Review
 (4) If you are dissatisfied with a determination made under this Subdivision in relation to you, you may object against the determination in the manner set out in Part IVC.
 (5) If you are dissatisfied with a decision the Commissioner makes not to make a determination under this Subdivision:
 (a) you may object against the decision in the manner set out in Part IVC; and
 (b) for the purpose of working out the period within which the objection must be lodged, notice of the decision is taken to have been served on you on the day notice is given to you of:
 (i) for a determination under section 133‑10—the assessment of the amount; or
 (ii) for a determination under section 133‑25—the amended assessment.
Note: For the period within which objections must be lodged, see section 14ZW.

Subdivision 133‑B—Debt account

Guide to Subdivision 133‑B

133‑55  What this Subdivision is about

      The Commissioner keeps debt accounts for tax that is deferred to a debt account for a superannuation interest.
      You can make voluntary payments of the debt account.

Table of sections

Operative provisions
133‑60 Debt account to be kept for deferred tax
133‑65 Interest on debt account balance
133‑70 Voluntary payments
133‑75 Commissioner must notify superannuation provider of debt account

Operative provisions

133‑60  Debt account to be kept for deferred tax

Accounts to be kept
 (1) The Commissioner is to keep a debt account for *Division 293 tax for you for a *superannuation interest, if an amount of your *assessed Division 293 tax is *deferred to a debt account for the superannuation interest.

Account to be debited for Division 293 tax
 (2) The Commissioner must debit the debt account for the amount of *assessed Division 293 tax that is *deferred to a debt account for the *superannuation interest.

133‑65  Interest on debt account balance

Interest to be debited at end of financial year
 (1) If a debt account for a *superannuation interest is in debit at the end of a *financial year, the Commissioner is to debit the account for interest on the amount by which the account is in debit, calculated at the *long term bond rate for that financial year.
Note: Interest would not be debited to a debt account that is no longer being kept by the Commissioner because the assessed Division 293 tax liability being tracked in the account has been finally discharged as