Income Tax Assessment Act 1997
View history note
Hide history noteSECTION 276-350 276-350 Limited discovery period for unders and overs
Despite section 276-345 , an *AMIT does not have an *under or an *over of a particular character for an income year (the base year ) if:
(a) assuming the Commissioner made an assessment of the *trust component of that character on the day on which the document stating the AMIT ' s *determined trust component of that character for the base year was created; and
(b) assuming the assessment had not been amended at the discovery time mentioned in subsection 276-345(2) for the under or over;
section 170 of the Income Tax Assessment Act 1936 would prevent the assessment from being amended to take account of the under or over.
Note:
Section 170 of the Income Tax Assessment Act 1936 specifies the usual period within which assessments may be amended.
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