20Negotiated assessments

20 Negotiated assessments (1) The Commissioner may, if satisfied there is good reason to do so, make an assessment (a negotiated assessment) by agreement with a taxpayer. The Commissioner might make an assessment by agreement with the taxpayer in a case of substantial complexity or uncertainty or if satisfied that an assessment made in the conventional way would involve undue delay or expense.

Taxation Administration Act 2007 10 (2) A negotiated assessment is an assessment, made by the Commissioner with the written agreement of the taxpayer, assessing a tax liability at an amount, or on a basis, specified in the agreement. (3) If a tax liability is determined by negotiated assessment, the Commissioner cannot reassess the tax liability unless: (a) the taxpayer agrees; or (b) in the opinion of the Commissioner: (i) the assessment was procured by fraud; or (ii) there was a failure to disclose material information. (4) The Commissioner has a discretion to make, or to decline to make, a negotiated assessment and is under no obligation to do so. (5) The following are not subject to judicial review: (a) a decision to make, or not to make, a negotiated assessment; (b) a negotiated assessment, or a reassessment made with the taxpayer's agreement of a tax liability determined by negotiated assessment.