Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)

Schedule 5   Loss carry back

Part 2   Ascertainment of totals of tax offset refunds

Division 1   Amendments relating to the 2012-13 income year

Income Tax Assessment Act 1936

15   Paragraph 166A(3)(c)

Repeal the paragraph, substitute:

(c) the Commissioner is taken to have made an assessment of:

(i) the taxable income or net income (or an assessment that there is no taxable income or net income); and

(ii) the tax payable on that income (or that no tax is payable); and

(iii) the total of the taxpayer's tax offset refunds for the year of income (or that the taxpayer can get no such refunds);

in accordance with what the taxpayer specified in the return;