Taxation Administration Act 2001
sec.14AMaking self assessment by lodging transaction statement
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sec.14A Making self assessment by lodging transaction statement
The following provisions apply if, under a revenue law, a self assessor lodges a transaction statement— an assessment (a standard self assessment ) is taken to have been made for the taxpayer stated in the statement; the assessment under paragraph (a) is taken to have been made by the commissioner; the liability for tax for the assessment is the amount that, on the basis of the information stated in the statement, is the amount of the taxpayer’s liability for tax; despite section 26 (2) , the statement is taken to be an assessment notice for the assessment; the assessment notice is taken to have been given under section 26 to the taxpayer for whom the assessment is made. s 14A ins 2009 No. 19 s 78 amd 2020 No. 30 s 111
- (a) an assessment (a standard self assessment ) is taken to have been made for the taxpayer stated in the statement;
- (b) the assessment under paragraph (a) is taken to have been made by the commissioner;
- (c) the liability for tax for the assessment is the amount that, on the basis of the information stated in the statement, is the amount of the taxpayer’s liability for tax;
- (d) despite section 26 (2) , the statement is taken to be an assessment notice for the assessment;
- (e) the assessment notice is taken to have been given under section 26 to the taxpayer for whom the assessment is made.