Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 214-125 Further amendment of an amended particular 214-125(1)
If:
(a) a *franking assessment has been amended (the first amendment ) in any particular; and
(b) the Commissioner is of the opinion that it would be just to further amend the assessment in that particular so as to *reduce the assessment;
the Commissioner may do so within a period of 3 years after the first amendment.
214-125(2)
The Commissioner reduces a franking assessment if the Commissioner amends the assessment by doing one or more of the following:
(a) increasing the *franking surplus (including from a nil balance);
(b) decreasing the *franking deficit (including to a nil balance);
(c) decreasing *franking tax payable.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
