Income Tax (Transitional Provisions) Act 1997
If:
(a) the entity does not make a full and true disclosure to the Commissioner of the information necessary for a franking assessment for the entity for the balancing period; and
(b) in making the assessment, the Commissioner makes an under-assessment; and
(c) the Commissioner is not of the opinion that the under-assessment is due to fraud or evasion;
the Commissioner may amend the assessment at any time during the period of 6 years after the original franking assessment day.
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