Tax Laws Amendment (2011 Measures No. 9) Act 2012 (12 of 2012)
Schedule 6
Part 22 Limited amendment period
Income Tax Assessment Act 1936
188 After section 170
Insert:
170A Amendment of assessments - interaction with other Acts
Scope
(1) This section applies if a law other than section 170 or this section provides that section 170 does not prohibit the amendment of an assessment if the amendment is made:
(a) for a particular purpose; and
(b) within a particular period (the later amendment period ).
Extensions - applications by taxpayer
(2) Section 170 does not prevent the Commissioner amending the assessment even though the later amendment period has ended if the taxpayer applies:
(a) before the end of the later amendment period; and
(b) in the approved form mentioned in subsection 170(5);
for an amendment for the purpose mentioned in paragraph (1)(a) of this section. The Commissioner may amend the assessment to give effect to the decision on the application.
Extensions - giving effect to private rulings
(3) The Commissioner may amend an assessment even though the later amendment period has ended if:
(a) the taxpayer applies for a private ruling under Division 359 in Schedule 1 to the Taxation Administration Act 1953:
(i) before the end of the later amendment period; and
(ii) for the purpose mentioned in paragraph (1)(a); and
(b) the Commissioner makes a private ruling under that Division because of the application.
The Commissioner may amend the assessment to give effect to the ruling.
Extensions - Federal Court orders or taxpayer consent
(4) If:
(a) the Commissioner has started to examine the affairs of a taxpayer in relation to an assessment for the purpose mentioned in paragraph (1)(a); and
(b) the Commissioner has not completed the examination before the end of the later amendment period or that period as extended;
the later amendment period may be extended as follows:
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Extensions of later amendment period |
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In this case: |
The position is: |
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1 |
The Commissioner, before the end of the later amendment period or that period as extended, applies to the Federal Court of Australia for an order extending the later amendment period |
The Court may order an extension of the later amendment period for a specified period if it is satisfied that it was not reasonably practicable, or it was inappropriate, for the Commissioner to complete the examination within the later amendment period, or that period as extended, because of: (a) any action taken by the taxpayer; or (b) any failure of the taxpayer to take action that would have been reasonable for the taxpayer to take. |
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2 |
The Commissioner, before the end of the later amendment period or that period as extended, requests the taxpayer to consent to extending the later amendment period |
The taxpayer may, by notice in writing, consent to extending the later amendment period for a specified period. |
(5) The later amendment period for an assessment may be extended more than once under subsection (4).