Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 214.65

    If:

  (a)   a franking assessment for the entity for the balancing period has been amended (the first amendment ) in any particular; and

  (b)   the Commissioner is of the opinion that it would be just to further amend the assessment in that particular so as to reduce the assessment;

the Commissioner may do so within a period of 3 years after the first amendment.