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

Schedule 6   Shorter period of review (SPOR) taxpayers

Part 1   Income Tax Assessment Act 1936

4   Subsection 170(1A)

Omit all the words after paragraph (b), substitute:

the Commissioner may:

(c) if the taxpayer is not a SPOR taxpayer for the year of income to which the amended assessment relates - within 4 years after the day on which notice of the amended assessment was served; or

(d) if the taxpayer is a SPOR taxpayer for the year of income to which the amended assessment relates - within 2 years after the day on which tax is due and payable under the amended assessment;

further amend the assessment in, or in respect of, that particular in a way that increases the taxpayer's liability to the extent that the Commissioner thinks necessary.