Petroleum Resource Rent Tax Assessment Act 1987

PART VI - RETURNS AND ASSESSMENTS  

Division 3 - Assessments (amendment)  

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History

Divs 2 and 3 substituted for Div 2 by No 78 of 2006, s 3 and Sch 4 item 10, applicable only in relation to returns and assessments of tax, and instalments of tax, under the Petroleum Resource Rent Tax Assessment Act 1987 for financial years that start on or after 1 July 2006. For former wording of Div 2, see note under Div 2 heading.

SECTION 67   AMENDMENT OF ASSESSMENTS  

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67(1)    
The Commissioner may amend an assessment in relation to a person within 4 years after the day on which notice of the assessment was given to the person.

Note 1:

If a person ' s return is taken to be an assessment under section 62 , the Commissioner is taken to have given a notice of assessment to the person on the day the person gave the return to the Commissioner: see subsection 62(4) .

Note 2:

The amendment period may be extended: see sections 69 , 70 and 71 .

67(2)    
In addition, the Commissioner may amend an assessment at any time:

(a) if he or she is of the opinion there has been fraud or evasion; or

(b) to give effect to a decision on a review of appeal; or

(c) as a result of an objection, or pending a review or appeal; or

(d) to give effect to a determination under paragraph 53(1)(c) ; or

(e) to take account of the operation of subsection 5(4) , 20(8) , 45A(3) , 45B(3) or 45C(6) .

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History

S 67(2) amended by No 43 of 2019, s 3 and Sch 2 item 68, by repealing the note, effective 1 July 2019. For application, transitional and savings provisions, see note under s 31AA . The note formerly read:

Note:

The Commissioner may also amend an assessment at any time to give effect to a starting base assessment, see subclause 23(6) of Schedule 2 .

S 67(2) amended by No 18 of 2012, s 3 and Sch 4 item 44, by inserting the note at the end, effective 1 July 2012.

67(3)    
As soon as practicable after the Commissioner amends an assessment in relation to a person, the Commissioner must give notice in writing of the amended assessment to the person.

Note:

This section applies to assessments even if no tax is payable: see the definition of assessment in section 2 .

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History

S 67 substituted by No 78 of 2006, s 3 and Sch 4 item 10, applicable only in relation to returns and assessments of tax, and instalments of tax, under the Petroleum Resource Rent Tax Assessment Act 1987 for financial years that start on or after 1 July 2006. For former wording of s 67 see note under Div 2 heading.

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