A New Tax System (Tax Administration) Act 1999 (179 of 1999)

Schedule 6   Shorter period of review (SPOR) taxpayers

Part 1   Income Tax Assessment Act 1936

8   Subsection 170(6)

Repeal the subsection, substitute:

(6) If:

(a) a taxpayer applies for an amendment of his or her assessment; and

(b) either of the following subparagraphs applies:

(i) if the taxpayer is not a SPOR taxpayer for the year of income to which the assessment relates - the application is made within 4 years after the day on which tax became due and payable under the assessment;

(ii) if the taxpayer is a SPOR taxpayer for the year of income to which the assessment relates - the application is made within 2 years after the day on which tax became due and payable under the assessment; and

(c) the taxpayer has supplied to the Commissioner within the period applicable under subparagraph (b)(i) or (ii), as the case may be, all information needed by the Commissioner for the purpose of deciding the application;

the Commissioner may amend the assessment when he or she decides the application even though that period has elapsed.