Tax Laws Amendment (2013 Measures No. 1) Act 2013 (119 of 2013)

4   Amendment of assessments

 

(1) Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:

(a) the assessment was made before the commencement of Part 1 or 2 of Schedule 1 to this Act; and

(b) the amendment is made within 2 years after that commencement; and

(c) the amendment is made for the purpose of giving effect to that Part.

      

(2) Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:

(a) the assessment was made before the commencement of subitem 20(2) of Schedule 1 to this Act; and

(b) the amendment is made within 2 years after that commencement; and

(c) the amendment is made for the purpose of giving effect to a choice made under that subitem.

Note: Schedule 1 to this Act deals with the scrip for scrip roll-over, small business entity and other concessions.