A New Tax System (Tax Administration) Act (No. 2) 2000 (91 of 2000)

Schedule 2   Consequential and miscellaneous amendments

Part 1   General

Income Tax Assessment Act 1936

30   Paragraph 226Z(b)

Repeal the paragraph, substitute:

(b) the taxpayer voluntarily tells the Commissioner in writing about the shortfall or part before the earlier of:

(i) the day the Commissioner informs the taxpayer that a tax audit relating to the taxpayer in respect of the year was to be carried out; or

(ii) if the Commissioner has made a public statement requesting taxpayers to make a voluntary disclosure by a particular day about a scheme or transaction that applies to the taxpayer's financial affairs - before that day;