sec.43Amendment of gross value royalty decision

sec.43 Amendment of gross value royalty decision

The revenue commissioner may amend a gross value royalty decision (an earlier decision ) for a mineral if the revenue commissioner is reasonably satisfied that the earlier decision was not, or is no longer, correct. If the revenue commissioner proposes to amend the earlier decision in a way that increases the gross value of a mineral under the decision, the revenue commissioner must— give the holder for the mineral a notice stating that the revenue commissioner proposes to make the amendment; and invite the holder to make submissions about the proposed amendment within— 30 days after the day the revenue commissioner gives the holder the notice; or if the revenue commissioner approves a longer period—the longer period. In amending the earlier decision, the revenue commissioner— may consider any of the matters mentioned in section 37 as if they related to making the amendment; and if a submission about the proposed amendment is made by the holder within the period mentioned in subsection (2) (b) for the submission—must consider the submission. The amendment of an earlier decision under subsection (1) must, for a return period for which the decision applies, be made within 5 years after the day that royalty became payable for that return period. Despite subsection (4) , the revenue commissioner may, at any time, amend an earlier decision for a mineral applying for a return period in any of the following ways— the earlier decision may be amended in a way that decreases the gross value of the mineral if, within 5 years after the day that royalty became payable for the return period, the holder applied for an amended gross value royalty decision; the earlier decision may be amended in a way that increases the gross value of the mineral if, within 5 years after the day that royalty became payable for the return period, the revenue commissioner gave the holder— a notice informing the holder that an investigation into the holder’s liability for royalty has started under the Taxation Administration Act 2001 , part 7 or a recognised law; or a notice under subsection (2) ; the earlier decision may be amended in a way that increases the gross value of the mineral if the revenue commissioner reasonably believes— there has been fraud or evasion of royalty; or the holder for the mineral, or a person acting for the holder, has knowingly misled the revenue commissioner, or caused the revenue commissioner to be misled, about the value of the mineral, including, for example, by giving, omitting or changing information or documents; if an appeal against, or review of, the earlier decision has started, the earlier decision may be amended, with the holder’s agreement, before a decision is made on the appeal or review. Subsection (2) does not apply to an amendment of an earlier decision mentioned in subsection (5) (d) . The revenue commissioner can not be compelled to amend an earlier decision, to the extent the amendment would decrease the gross value applying for a mineral under the decision for a return period, if royalty was payable for the return period. For the Taxation Administration Act 2001 , section 75 , a decision of the revenue commissioner not to make an amendment mentioned in subsection (7) is declared to be a non-reviewable decision. The revenue commissioner may amend an earlier decision even if an objection or appeal against, or review of, the earlier decision has started but not yet been decided. For objections, reviews and appeals relating to gross value royalty decisions, see the Taxation Administration Act 2001 , part 6 . In this section— recognised law see the Taxation Administration Act 2001 , schedule 2 . (sec.43-ssec.1) The revenue commissioner may amend a gross value royalty decision (an earlier decision ) for a mineral if the revenue commissioner is reasonably satisfied that the earlier decision was not, or is no longer, correct. (sec.43-ssec.2) If the revenue commissioner proposes to amend the earlier decision in a way that increases the gross value of a mineral under the decision, the revenue commissioner must— give the holder for the mineral a notice stating that the revenue commissioner proposes to make the amendment; and invite the holder to make submissions about the proposed amendment within— 30 days after the day the revenue commissioner gives the holder the notice; or if the revenue commissioner approves a longer period—the longer period. (sec.43-ssec.3) In amending the earlier decision, the revenue commissioner— may consider any of the matters mentioned in section 37 as if they related to making the amendment; and if a submission about the proposed amendment is made by the holder within the period mentioned in subsection (2) (b) for the submission—must consider the submission. (sec.43-ssec.4) The amendment of an earlier decision under subsection (1) must, for a return period for which the decision applies, be made within 5 years after the day that royalty became payable for that return period. (sec.43-ssec.5) Despite subsection (4) , the revenue commissioner may, at any time, amend an earlier decision for a mineral applying for a return period in any of the following ways— the earlier decision may be amended in a way that decreases the gross value of the mineral if, within 5 years after the day that royalty became payable for the return period, the holder applied for an amended gross value royalty decision; the earlier decision may be amended in a way that increases the gross value of the mineral if, within 5 years after the day that royalty became payable for the return period, the revenue commissioner gave the holder— a notice informing the holder that an investigation into the holder’s liability for royalty has started under the Taxation Administration Act 2001 , part 7 or a recognised law; or a notice under subsection (2) ; the earlier decision may be amended in a way that increases the gross value of the mineral if the revenue commissioner reasonably believes— there has been fraud or evasion of royalty; or the holder for the mineral, or a person acting for the holder, has knowingly misled the revenue commissioner, or caused the revenue commissioner to be misled, about the value of the mineral, including, for example, by giving, omitting or changing information or documents; if an appeal against, or review of, the earlier decision has started, the earlier decision may be amended, with the holder’s agreement, before a decision is made on the appeal or review. (sec.43-ssec.6) Subsection (2) does not apply to an amendment of an earlier decision mentioned in subsection (5) (d) . (sec.43-ssec.7) The revenue commissioner can not be compelled to amend an earlier decision, to the extent the amendment would decrease the gross value applying for a mineral under the decision for a return period, if royalty was payable for the return period. (sec.43-ssec.8) For the Taxation Administration Act 2001 , section 75 , a decision of the revenue commissioner not to make an amendment mentioned in subsection (7) is declared to be a non-reviewable decision. (sec.43-ssec.9) The revenue commissioner may amend an earlier decision even if an objection or appeal against, or review of, the earlier decision has started but not yet been decided. For objections, reviews and appeals relating to gross value royalty decisions, see the Taxation Administration Act 2001 , part 6 . (sec.43-ssec.10) In this section— recognised law see the Taxation Administration Act 2001 , schedule 2 .