Income Tax Assessment Act 1997
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View history notePt 3-6 inserted by No 48 of 2002.
Div 204 inserted by No 48 of 2002.
Subdiv 204-D inserted by No 48 of 2002.
SECTION 204-50 Assessment and notice of determination 204-50(1)
A determination under subsection 204-30(3) does not form part of an assessment.
204-50(2)
The Commissioner must give notice in writing of the determination: (a) in a case where the Commissioner determines that a *franking debit is to arise in the *franking account of an entity under paragraph 204-30(3)(a) - to the entity; and (b) in a case where the Commissioner determines that an *exempting debit is to arise in the *exempting account of an entity under paragraph 204-30(3)(b) - to the entity; and (c) in a case where a favoured member is denied an *imputation benefit under paragraph 204-30(3)(c) - to the favoured member.
S 204-50(2) amended by No 90 of 2002.
204-50(3)
If the Commissioner makes a determination denying an *imputation benefit under paragraph 204-30(3)(c) on a *distribution made by a *listed public company, the Commissioner is taken to have served notice in writing of the determination on the favoured member if the Commissioner causes a notice to be published in a manner that results in the notice being accessible to the public and reasonably prominent. The notice is taken to have been served on the day on which the publication takes place.
S 204-50(3) amended by No 69 of 2023, s 3 and Sch 1 item 109, by substituting " manner that results in the notice being accessible to the public and reasonably prominent " for " daily newspaper that circulates generally in each State, the Australian Capital Territory and the Northern Territory " , effective 1 January 2024.
S 204-50(3) amended by No 90 of 2002.
204-50(4)
(Repealed by No 81 of 2016)
S 204-50(4) repealed by No 81 of 2016, s 3 and Sch 10 item 72, effective 1 January 2017 and applicable to documents (however described) that the Commissioner gives on or after 1 July 2017 under taxation laws. S 204-50(4) formerly read:
204-50(4)
A notice under this section may be included in a notice of assessment.
S 204-50 inserted by No 48 of 2002.
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