Revocation of Connected Entities Exemption

This Commissioner’s practice explains when a connected entities exemption will be revoked, when penalty tax may apply and how that penalty tax will be remitted.

This practice covers

• exempt transactions
• when the Commissioner must be notified of certain events
• automatic revocation
• reduction of duty under section 266A
• reduction of duty under section 266B
• revocation by the Commissioner
• penalty tax
• pre-transaction decision requests