61ICommissioner has discretion to extend exemption period

61I Commissioner has discretion to extend exemption period (1) The Commissioner may determine that section 61 applies to land for— (a) the year that is 5 years after the year in which the works start date occurred; or (b) both the year that is 5 years and the year that is 6 years after the year in which the works start date occurred. (2) For the purposes of making a determination under subsection (1), the Commissioner must be satisfied that— (a) a company has been contracted to undertake the construction or renovation of a residence on the land; and (b) a liquidator has been appointed to wind up the company; and (c) because of the circumstances referred to in paragraph (b), the works finish date for the construction or renovation has not occurred. (3) If the Commissioner makes a determination under subsection (1)(a), the following provisions apply to the land as if a reference to 4 years were a reference to 5 years— (a) paragraph (b) of the definition of ***qualifying occupation date***; (b) sections 61C(1) and (2) and 61G(1). (4) If the Commissioner makes a determination under subsection (1)(b), the following provisions apply to the land as if a reference to 4 years were a reference to 6 years— (a) paragraph (b) of the definition of ***qualifying occupation date***; (b) sections 61C(1) and (2) and 61G(1). Pt 4 Div. 1 Subdiv. 6 (Heading) inserted by No. 23/2022 s. 18(6).