A New Tax System (Tax Administration) Act 1999 (179 of 1999)

Schedule 16   PAYG instalments consequential amendments

Income Tax Assessment Act 1936

10   At the end of section 166A

Add:

(3) If:

(a) at a particular time, a full self-assessment taxpayer gives a return in respect of a year of income for which the taxpayer is a full self-assessment taxpayer; and

(b) before that time, no return has been given, and no assessment has been made, in relation to the taxpayer in respect of the income of the year of income;

the following provisions apply:

(c) the Commissioner is taken to have made an assessment of the taxable income or net income, and the tax payable on that income, equal to those respective amounts specified in the return;

(d) the assessment is taken to have been made on the day on which the return is lodged;

(e) on and after the day on which the Commissioner is taken to have made the assessment, the return is taken to be a notice of the assessment:

(i) under the hand of the Commissioner; and

(ii) served on the taxpayer on the day on which the Commissioner is taken to have made the assessment.