Commonwealth Consolidated Acts

FRINGE BENEFITS TAX ASSESSMENT ACT 1986 - SECT 72

    Where:

  (a)   at a particular time, a return under this Act in relation to an employer in relation to a year of tax is furnished; and

  (b)   before that time, no return has been furnished, and no assessment has been made, in relation to the employer in relation to the year of tax;

the following provisions have effect:

  (c)   the Commissioner shall be deemed at that time to have made an assessment (in this section referred to as the deemed assessment ) of:

  (i)   the fringe benefits taxable amount (including a nil amount) of the employer of the year of tax; and

  (ii)   the amount (including a nil amount) of tax payable on that fringe benefits taxable amount;

    being those respective amounts as specified in the return referred to in paragraph   (a);

  (d)   the return referred to in paragraph   (a) shall be deemed to be a notice of the deemed assessment and to be under the hand of the Commissioner;

  (e)   the notice referred to in paragraph   (d) shall be deemed to have been served at that time on the person liable to pay the tax.