Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)
Schedule 5 Loss carry back
Part 2 Ascertainment of totals of tax offset refunds
Division 1 Amendments relating to the 2012-13 income year
Income Tax Assessment Act 1936
14 Section 166
Repeal the section, substitute:
166 Assessment
From the returns, and from any other information in the Commissioner's possession, or from any one or more of these sources, the Commissioner must make an assessment of:
(a) the amount of the taxable income (or that there is no taxable income) of any taxpayer; and
(b) the amount of the tax payable thereon (or that no tax is payable); and
(c) the total of the taxpayer's tax offset refunds (or that the taxpayer can get no such refunds).
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