Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012 (14 of 2012)

Schedule 2   Amendments related to assessments

Part 1   Amendments

Taxation Administration Act 1953

5   Section 155-55 in Schedule 1

Repeal the section, substitute:

155-55 Amendment to give effect to certain anti-avoidance declarations or determinations

The Commissioner may amend an assessment of an *assessable amount at any time, if:

(a) the Commissioner makes a declaration under subsection 165-45(3) of the *GST Act (about compensating adjustments for anti-avoidance declarations); or

(b) the Commissioner makes a declaration under subsection 75-45(3) of the Fuel Tax Act 2006 (about compensating adjustments for anti-avoidance declarations); or

(c) the Commissioner makes a determination under section 210-30 of the Minerals Resource Rent Tax Act 2012 (about compensating adjustments for anti-avoidance determinations).

The Commissioner may amend the assessment to give effect to the declaration or determination.

155-57 Amendment to give effect to MRRT anti-profit shifting rules

The Commissioner may amend an assessment of an *assessable amount of yours at any time for the purposes of giving effect to Division 205 (about anti-profit shifting) of the Minerals Resource Rent Tax Act 2012.