Taxation Laws Amendment (Self Assessment) Act 1992 (101 of 1992)

PART 2   AMENDMENT OF THE TAXATION ADMINISTRATION ACT 1953

8   When taxation objections are to be made

Section 14ZW of the Principal Act is amended:

(a) by omitting from subsection (1) "The" and substituting "Subject to this section, the";

(b) by omitting from subsection (1) "60 days after";

(c) by inserting before paragraph (1)(a) the following paragraphs:

"(aa) if the taxation objection is made under section 78A of the Fringe Benefits Tax Assessment Act 1986 or section 160AL, 160AQQ, 160ART or 175A of the Income Tax Assessment Act 1936 - 4 years after notice of the taxation decision to which it relates has been served on the person; or

(ab) if the taxation objection is a delayed administration (beneficiary) objection made under subsection 98(3) of the Fringe Benefits Tax Assessment Act 1986 or subsection 220(3) of the Income Tax Assessment Act 1936 (not including that subsection as applied by any other Act) - 4 years after notice of the taxation decision to which it relates has been first published; or

(ac) if the taxation objection is a delayed administration (trustee) objection made under subsection 98(7) of the Fringe Benefits Tax Assessment Act 1986 or subsection 220(7) of the Income Tax Assessment Act 1936 (not including that subsection as applied by any other Act) - 4 years after probate of the will, or letters of administration of the estate, of the deceased person concerned has been granted; or";

(d) by inserting in paragraph (1)(a) "to which paragraph (ab) does not apply" after "objection" (second occurring) and "60 days after" before "notice";

(e) by inserting in paragraph (1)(b) "to which paragraph (ac) does not apply" after "objection" (second occurring) and "60 days after" before "probate";

(f) by inserting in paragraph (1)(c) "60 days after" before "notice";

(g) by inserting after subsection (1) the following subsections:

"(1A) The person must lodge the taxation objection against a private ruling before the end of whichever of the following ends last:

(a) the 60 days after the private ruling was made;

(b) the 4 years after the last day allowed to the person for lodging a return in relation to the person's income for the year of income to which the ruling relates.

"(1B) If:

(a) section 14ZV applies to a taxation objection; and

(b) apart from this subsection, paragraph (1)(aa), (ab) or (ac) would apply to the taxation objection;

the person must lodge the taxation objection before the end of whichever of the following ends last:

(c) the 4 years after notice of the assessment or determination that has been amended by the amended assessment or amended determination to which the taxation objection relates has been served on the person;

(d) the 60 days after the notice of the amended assessment or amended determination to which the taxation objection relates has been served on the person.

"(1C) For the purposes of paragraph (1B)(c), if an assessment or determination has been amended more than once, the notice is the notice of the first assessment or determination in relation to the year of income, franking year or year of tax, as the case requires.";

(h) by inserting in subsections (2) and (3) "4 years or" before "60 days" (wherever occurring(.