Income Tax Assessment Act 1936

PART IV - RETURNS AND ASSESSMENTS  

SECTION 168   SPECIAL ASSESSMENT  

168(1)    

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The Commissioner may at any time during any year, or after its expiration, make an assessment of:

(a) the taxable income derived (or that there is no taxable income) in that year or any part of it by any taxpayer; and

(b) the tax payable thereon (or that no tax is payable); and

(c) the total of the taxpayer ' s tax offset refunds for that year or that part of it (or that the taxpayer can get no such refunds).

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History

S 168(1) substituted by No 88 of 2013, s 3 and Sch 5 item 16, applicable to assessments made on or after 1 July 2013 for the 2013-14 income year or later income years. S 168(1) formerly read:

168(1)
The Commissioner may at any time during any year, or after its expiration, make an assessment of the taxable income derived (or that there is no taxable income) in that year or any part of it by any taxpayer and of the tax payable thereon (or that no tax is payable).

S 168(1) amended by No 161 of 2005.

168(2)   [Income period less than a year]  

Where the income, in respect of which such an assessment is made, is derived in a period less than a year, the assessment shall be made as if the beginning and end of that period were the beginning and end respectively of the year of income.

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