343Approval to defer payment of lease variation charges

343 Approval to defer payment of lease variation charges (1) The commissioner for revenue must approve an application to defer payment of a lease variation charge under section 342 if— (a) the total lease variation charge to be deferred is at least the amount determined by the Treasurer; and (b) the applicant satisfies any other criteria determined by the Treasurer; and

(c) the applicant enters into an arrangement under the Taxation Administration Act 1999, section 52 (Arrangements for payment of tax) about payment of the amount of the deferred lease variation charge (a deferral arrangement). Note 1 An amount payable under a deferral arrangement is a debt owing to the Territory and is a charge on the land (see Taxation Administration Act 1999, s 56H). Note 2 A decision in relation to an application, the conditions of a deferral arrangement under s 344 or the variation of a deferral arrangement under s 345 are reviewable decisions (see Taxation Administration Act 1999, sch 1). (2) A determination under subsection (1) (b) is a disallowable instrument. (3) If the applicant for deferral is not the lessee, the lessee— (a) may enter into the deferral arrangement instead of the applicant; or (b) must sign the deferral arrangement. total lease variation charge—see section 328 (4).