Section EC 18 — Income Tax Act 2007: Inaccurate herd value ratio

EC 18 Inaccurate herd value ratio The Commissioner may require a person who is using an inaccurate herd value ratio for a type of livestock in an income year to recalculate the herd value ratio. If the recalculation differs from the existing ratio for the income year, the Commissioner may amend the assessment of income tax for the income year and any later income year and may substitute the recalculated herd value ratio for that previously applied by the person. Defined in this Act: assessment , Commissioner , herd value ratio , income tax , income year , type , Compare: 2004 No 35 s EC 18