Taxation Laws Amendment Act (No. 2) 1994 (82 of 1994)

Part 3   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 4   Amendments relating to capital gains tax

Subdivision F   Amendment of assessments

52   Amendment of assessments

Section 170 of the Principal Act is amended by inserting after subsection (9C) the following subsection:

"(9D) This section does not prevent the amendment of an assessment at any time if the amendment is made, in relation to a contract that after the making of the assessment is found to be void ab initio, to ensure that Part IIIA is taken always to have applied to the contract as if the contract had never been made.".