sec.246SReassessment of windfall duty

### sec.246S Reassessment of windfall duty This section applies if— windfall duty is assessed on a claim for an AFAD windfall in relation to a relevant transaction; and the commissioner would, if the invalid AFAD to which the AFAD windfall relates had been validly imposed on the relevant transaction, have been required or permitted to make a reassessment of liability for AFAD for the relevant transaction under chapter 4 or the Administration Act . If a reassessment would have been required for the AFAD, the commissioner must make a reassessment of the windfall duty. If a reassessment would have been permitted for the AFAD, the commissioner may make a reassessment of the windfall duty. For reassessing the windfall duty— chapter 4 applies for working out the amount of the invalid AFAD as if it were validly imposed AFAD; and the Administration Act , part 5 applies for working out unpaid tax interest and penalty tax in relation to the amount of the invalid AFAD as if it were validly imposed AFAD. s 246S ins 2025 No. 15 s 5 (sec.246S-ssec.1) This section applies if— windfall duty is assessed on a claim for an AFAD windfall in relation to a relevant transaction; and the commissioner would, if the invalid AFAD to which the AFAD windfall relates had been validly imposed on the relevant transaction, have been required or permitted to make a reassessment of liability for AFAD for the relevant transaction under chapter 4 or the Administration Act . (sec.246S-ssec.2) If a reassessment would have been required for the AFAD, the commissioner must make a reassessment of the windfall duty. (sec.246S-ssec.3) If a reassessment would have been permitted for the AFAD, the commissioner may make a reassessment of the windfall duty. (sec.246S-ssec.4) For reassessing the windfall duty— chapter 4 applies for working out the amount of the invalid AFAD as if it were validly imposed AFAD; and the Administration Act , part 5 applies for working out unpaid tax interest and penalty tax in relation to the amount of the invalid AFAD as if it were validly imposed AFAD. - (a) windfall duty is assessed on a claim for an AFAD windfall in relation to a relevant transaction; and - (b) the commissioner would, if the invalid AFAD to which the AFAD windfall relates had been validly imposed on the relevant transaction, have been required or permitted to make a reassessment of liability for AFAD for the relevant transaction under chapter 4 or the Administration Act . - (a) chapter 4 applies for working out the amount of the invalid AFAD as if it were validly imposed AFAD; and - (b) the Administration Act , part 5 applies for working out unpaid tax interest and penalty tax in relation to the amount of the invalid AFAD as if it were validly imposed AFAD.