53Reassessment of levy liability

53 Reassessment of levy liability

(1) The Secretary must make one or more reassessments of the levy liability of a liable person if—

(a) it is necessary for the Secretary to give effect to a decision on an objection or review in relation to an assessment or reassessment made in relation to the liable person; or

See also section 81(1).

(b) the Secretary gives a staged payment approval to the liable person; or

(c) the liable person fails to comply with a condition of a staged payment approval; or

(d) the Secretary enters into a land transfer agreement with the liable person; or

(e) a land transfer agreement to which the liable person is a party is terminated.

(2) In addition, the Secretary may make one or more reassessments of the levy liability of a liable person—

(a) subject to section 54, on the Secretary's own initiative if it appears to the Secretary that a previous assessment is incorrect; or

(b) if at the time the original assessment or a reassessment was made, all the facts and circumstances affecting the levy liability of the liable person in respect of whom the original assessment or reassessment was made were not fully and truly disclosed to the Secretary; or

(c) subject to section 55, on the application of the liable person under section 59.

(3) A reassessment supersedes the original assessment and any earlier reassessment.