Tax Laws Amendment (Improvements to Self Assessment) Act (No. 1) 2005 (75 of 2005)

Schedule 1   Shortfall interest charge

Part 2   Consequential amendments

Income Tax Assessment Act 1936

5   After subsection 172(1)

Insert:

(1A) However, if a later amendment of an assessment is made and all or some of the person's earlier liability in relation to a particular is reinstated, paragraph (1)(a) is taken not to have applied, or not to have applied to the extent that the earlier liability is reinstated.