3A

The Commissioner may amend an assessment of an individual, a company or a person (in the capacity of a trustee of a trust estate) for a year of income within 4 years after the day on which the Commissioner gives notice of the assessment to the taxpayer if:

(a) the individual, company or trust is a small business entity or a medium business entity for the year; and

(b) the individual, company or trustee applies for an amendment in the approved form before the end of that 4 year period; and

(c) the Commissioner could amend the assessment within 2 years under item 1, 2 or 3; and

(d) the period within which the Commissioner could amend the assessment under item 1, 2 or 3 has ended.

The Commissioner may amend the assessment to give effect to the decision on the application.

This item is subject to items 5 and 6.