Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) This section applies if:
(a) at a particular time, a person gives a return to the Commissioner in relation to a year of tax and a petroleum project; and
(b) before that time, no return has been given, and no assessment has been made, in relation to the person, the year of tax and the project.
(2) The Commissioner is taken to have made an assessment of the amount of the person's taxable profit (or that the person has no taxable profit) in relation to the year of tax and the project, and of the tax payable on that amount (or that no tax is payable), in accordance with what the person specified in the return.
(3) The assessment is taken to have been made on the day the return is given to the Commissioner.
(4) On and after the day the Commissioner is taken to have made the assessment, the return is taken to be a notice of the assessment:
(a) under the hand of the Commissioner; and
(b) given to the person on the day the Commissioner is taken to have made the assessment.