(1) This section applies for the purposes of this Act and the Goods and Services Tax Act 1985 when—
(a) a person has provided a return in which the assessment of their liability for income tax, fringe benefit tax, or goods and services tax contains 1 or more minor errors; and
(b) the error was caused by a clear mistake, simple oversight, or mistaken understanding on the person's part; and
(c) for a single return, the total discrepancy in the assessment that is caused by the error is $500 or less.
(2) The Commissioner may allow the person to correct the error in the next return that is due after the discovery of the error.
(3) For the purposes of subsection (1)(c), the liability the person has for income tax, fringe benefit tax, or goods and services tax is treated separately.
Section 113A: inserted, on 8 December 2009, by section 140 of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63).