124YApproval of approved AIM providers

1. The Commissioner may approve a person as an approved AIM provider in relation to 1 or more of the person’s AIM-capable accounting systems (the products), if approving the person would not negatively affect the integrity of the tax system and the person makes a statutory declaration of the following matters and gives it to the Commissioner, namely a declaration:

2. specifying the name of the products; and
3. declaring that the person’s policy is to update the product regularly, to reflect changes in tax law or Commissioner’s requirements (for example: the software is updated to reflect a change in a determination by the Commissioner under section 91AAX); and
4. declaring any other matters required by the Commissioner to be declared for the purposes of assuring the Commissioner that the person’s product accurately calculates and communicates, in accordance with the Commissioner’s requirements, tax liabilities that are reasonably accurate assessments of tax liabilities for the relevant accounting income and expenditure.