Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 815.150

Amendment of assessments

  (1)   Section   170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment of an entity for an income year if:

  (a)   the amendment is made within 7 years after the day on which the Commissioner gives notice of the assessment to the entity; and

  (b)   the amendment is made for the purpose of giving effect to section   815 - 115.

  (2)   Section   170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment at any time for the purpose of giving effect to section   815 - 145.


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