Document ID: chunk:federal_register_of_legislation:F2015L01190:body:0:p2
Version: federal_register_of_legislation:F2015L01190
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conditions in clause 5 are also satisfied.

Additional conditions that apply to correcting a debit error

    A debit error made in an earlier tax period may only be corrected in a GST return for a later period if:

         (g)   the error was not a result of recklessness as to the operation of the wine tax law or intentional disregard of the wine tax law; and

         (h)   the error is corrected in a return for a tax period that is within the debit error time limit that corresponds with your current GST turnover as set out in the table below.

       Also, if the total of the debit errors included as corrections in the return, less the sum of any credit errors included as corrections in the return, exceeds the debit error value limit that corresponds with your current GST turnover as set out in the table below, then the excess may not be corrected in that return.

Current GST turnover                    Debit error time limit                                                                                                                                          Debit error value limit

Less than $20 million                   The error must be corrected in a GST return that is lodged within 18 months of the due date of the GST return for the tax period in which the error was made.   Less than $16, 000

$20 million to less than $100 million   The error must be corrected in a GST return that is lodged within 12 months of the due date of the GST return for the tax period in which the error was made.   Less than $32, 000

$100 million to less than $500 million  Less than $64, 000

$500 million to less than $1 billion    Less than $128, 000

$1 billion and over                     Less than $718, 000

    5.        Definitions

    In this Determination:

    compliance activity means an examination of your wine tax affairs. It begins on the day the Commissioner tells you that an examination is to be made and ends on the day when the earlier of the following occurs:

         (a)   the Commissioner gives a notice of assessment or amended assessment in relation to the tax period under examination; or

         (b)   the Commissioner tells you that the examination is over.

    A compliance activity includes reviews, audits, verification checks and other similar activities, including where any of these relate to record-keeping.

    credit error means a mistake you made in relation to wine tax or wine tax credits in working out your net amount for a tax period that would, if it was the only mistake made for the tax period, have resulted in your net amount or assessed net amount for that tax period being overstated.

    debit error means a mistake you made in relation to wine tax or wine tax credits in working out your