Queensland Consolidated Acts

TAXATION ADMINISTRATION ACT 2001 - SECT 14A

14A Making self assessment by lodging transaction statement

The following provisions apply if, under a revenue law, a self assessor lodges a transaction statement—

(a) an assessment (a
"standard self assessment" ) is taken to have been made for the taxpayer stated in the statement;

(b) the assessment under paragraph (a) is taken to have been made by the commissioner;

(c) the liability for tax for the assessment is the amount that, on the basis of the information stated in the statement, is the amount of the taxpayer’s liability for tax;

(d) despite section 26 (2) , the statement is taken to be an assessment notice for the assessment;

(e) the assessment notice is taken to have been given under section 26 to the taxpayer for whom the assessment is made.