Commonwealth Consolidated Acts Commonwealth Consolidated ActsPart 1 -- Amending assessments
Income Tax Assessment Act 1936
1 Subsections 170(1) to (7)
Repeal the subsections, substitute:
(1) The Commissioner may amend an assessment as follows:
Amendment of assessments | ||
| Time of amendment | Qualification |
1 | The Commissioner may amend an assessment of an individual for a year of income within 2 years after the day on which the Commissioner gives notice of the assessment to the individual. | This item does not apply: (a) if the individual carries on a business at any time in that year unless the individual is an STS taxpayer for that year; or (b) if the individual is a partner in a partnership that carries on a business at any time in that year unless the partnership is an STS taxpayer for that year; or (c) to an individual in the capacity of a trustee of a trust estate at any time in that year (see item 3 for this case); or (d) if the individual is a beneficiary of a trust estate at any time in that year unless the trust is an STS taxpayer for that year or the trustee of the trust (in that capacity) is a full self - assessment taxpayer for that year; or (e) if it is reasonable to conclude that any person entered into or carried out a scheme (either alone or with others) for the sole or dominant purpose of the individual obtaining a scheme benefit in relation to income tax from the scheme for that year; or (f) in any other circumstance prescribed by the regulations. This item is subject to items 5 and 6. |
2 | The Commissioner may amend an assessment of a company that is an STS taxpayer for the year of income to which the assessment relates within 2 years after the day on which the Commissioner gives notice of the assessment to the company. | This item does not apply: (a) if the company is a partner in a partnership that carries on a business at any time in that year unless the partnership is an STS taxpayer for that year; or (b) to a company in the capacity of a trustee of a trust estate at any time in that year (see item 3 for this case); or (c) if the company is a beneficiary of a trust estate at any time in that year unless the trust is an STS taxpayer for that year or the trustee of the trust (in that capacity) is a full self - assessment taxpayer for that year; or (d) if it is reasonable to conclude that any person entered into or carried out a scheme (either alone or with others) for the sole or dominant purpose of the company obtaining a scheme benefit in relation to income tax from the scheme for that year; or (e) in any other circumstance prescribed by the regulations. This item is subject to items 5 and 6. |
3 | The Commissioner may amend an assessment of a person (in the capacity of a trustee of a trust estate) for a year of income if the trust is an STS taxpayer for that year. The Commissioner may amend the assessment within 2 years after the day on which he or she gives notice of the assessment to the person. | This item does not apply: (a) if the person (in that capacity) is a partner in a partnership that carries on a business at any time in that year unless the partnership is an STS taxpayer for that year; or (b) if the person (in that capacity) is a beneficiary of another trust estate at any time in that year unless the other trust is an STS taxpayer for that year or the trustee of the other trust (in that capacity) is a full self - assessment taxpayer for that year; or (c) if it is reasonable to conclude that any person entered into or carried out a scheme (either alone or with others) for the sole or dominant purpose of the person (in that capacity) obtaining a scheme benefit in relation to income tax from the scheme for that year; or (d) in any other circumstance prescribed by the regulations. This item is subject to items 5 and 6. |
4 | If item 1, 2 or 3 does not apply, the Commissioner may amend an assessment within 4 years after the day on which he or she gives notice of the assessment to the taxpayer. | This item is subject to items 5 and 6. |
5 | The Commissioner may amend an assessment at any time if he or she is of the opinion there has been fraud or evasion. | None. |
6 | The Commissioner may amend an assessment at any time: (a) to give effect to a decision on a review or appeal; or (b) as a result of an objection made by the taxpayer or pending a review or appeal. | None. |
Note 1: This section applies to assessments where no tax is payable: see the definition of assessment in subsection 6(1).
Note 2: This section also applies to amended assessments: see section 173. However, there are limits on how amended assessments can be amended: see subsections (2) and (3) of this section.
Note 3: The amendment period mentioned in item 1, 2, 3 or 4 may be extended: see subsections (5) to (7).
Limit on amending amended assessments under subsection (1)
(2) The Commissioner cannot amend an amended assessment under item 1, 2, 3 or 4 of the table in subsection (1) if the limited amendment period for the original assessment concerned has ended.
Note: The Commissioner can amend amended assessments at any time under item 5 or 6 of the table in subsection (1).
Refreshed amendment period for amending amended assessments
(3) If the Commissioner amends an assessment (the earlier assessment ) as set out in column 2 of the following table, he or she may, under this subsection, amend the assessment (the later assessment ) that results from that amendment in the way set out in column 3 within:
(a) if item 1, 2 or 3 of the table in subsection (1) applies to the original assessment concerned (which may or may not be the earlier assessment)--2 years after the day on which he or she gives notice of the later assessment to the taxpayer; or
(b) otherwise--4 years after that day.
Amendment of later assessment | ||
Column 1 | Column 2
| Column 3 |
1 | The Commissioner amends the earlier assessment about a particular in a way that reduces a taxpayer's liability and the Commissioner accepts a statement made by the taxpayer in making the amendment | The Commissioner may amend the later assessment about that particular in a way that increases the taxpayer's liability. |
2 | The Commissioner amends the earlier assessment about a particular in a way that: (a) increases a taxpayer's liability; or (b) reduces a taxpayer's liability (other than in a case covered by item 1) | The Commissioner may amend the later assessment about that particular in a way that reduces the taxpayer's liability. |
Note 1: The earlier assessment may be the original assessment or an amended assessment.
Note 2: The Commissioner can amend the later assessment at any time under item 5 or 6 of the table in subsection (1).
Note 3: The amendment period mentioned in paragraph (3)(a) or (b) may be extended: see subsections (5) to (7).
(4) The Commissioner cannot amend an assessment under item 2 of the table in subsection (3) about a particular if he or she has previously amended an assessment under item 1 of that table about that particular.
Extensions--applications by taxpayer
(5) The Commissioner may amend an assessment even though the limited amendment period has ended if, before the end of that period, the taxpayer applies for an amendment in the approved form. The Commissioner may amend the assessment to give effect to the decision on the application.
Extensions--giving effect to private rulings
(6) The Commissioner may amend an assessment even though the limited amendment period has ended if:
(a) the taxpayer applies for a private ruling under Division 359 in Schedule 1 to the Taxation Administration Act 1953 before the end of that period; and
(b) the Commissioner makes a private ruling under that Division because of the application.
The Commissioner may amend the assessment to give effect to the ruling.
Extensions--Federal Court orders or taxpayer consent
(7) If:
(a) the Commissioner has started to examine the affairs of a taxpayer in relation to an assessment; and
(b) the Commissioner has not completed the examination before the end of the limited amendment period or that period as extended;
the limited amendment period may be extended as follows:
Extensions of limited amendment period | ||
| In this case: | the position is: |
1 | The Commissioner, before the end of the limited amendment period or that period as extended, applies to the Federal Court of Australia for an order extending the limited amendment period | The Court may order an extension of the limited amendment period for a specified period if it is satisfied that it was not reasonably practicable, or it was inappropriate, for the Commissioner to complete the examination within the limited amendment period, or that period as extended, because of: (a) any action taken by the taxpayer; or (b) any failure of the taxpayer to take action that would have been reasonable for the taxpayer to take. |
2 | The Commissioner, before the end of the limited amendment period or that period as extended, requests the taxpayer to consent to extending the limited amendment period | The taxpayer may, by notice in writing, consent to extending the limited amendment period for a specified period. |
(8) The limited amendment period for an assessment may be extended more than once under subsection (7).
Note: The following heading to subsection 170(9) is inserted " Other amendment periods ".
2 Subsections 170(9A), (9E) and (9F)
Repeal the subsections.
3 Subsection 170(10)
Repeal the subsection, substitute:
(10) Nothing in this section prevents the amendment, at any time, of an assessment for the purpose of giving effect to any of the provisions of this Act set out in this table.
Amendment of assessments | ||
Item | Provision | Brief description |
1 | Section 23AB | Income of certain persons serving with an armed force under the control of the United Nations |
2 | Section 23H | Exemption of certain film income |
3 | Section 26AG | Certain film proceeds included in assessable income |
4 | Subsection 47(2B) | Distributions by liquidator |
5 | Section 51AD | Deductions not allowable in respect of property used under certain leveraged arrangements |
6 | Section 51AH | Deductions not allowable where expenses incurred by employee are reimbursed |
7 | Subsection 57AM(10), (13), (14), (15) or (16) | Special depreciation on trading ships |
8 | Subsection 59(2D) | Disposal, loss or destruction of depreciated property |
9 | Subsection 77F(5) | Money paid before 1 July 1991 on shares in management and investment companies |
10 | Section 78A | Certain gifts not to be allowable deductions |
11 | Section 78B | Promoters recoupment tax |
12 | Section 82KJ | Deduction not allowable in respect of certain pre - paid outgoings |
13 | Section 82KK | Schemes designed to postpone tax liability |
14 | Section 82KL | Tax benefit not allowable in respect of certain recouped expenditure |
15 | Subsection 82S(3) | Interest on certain convertible notes to be an allowable deduction--where loan made before 1 January 1976 |
16 | Subsection 82SA(2) | Interest on certain convertible notes to be an allowable deduction--where loan made on or after 1 January 1976 |
17 | Section 100A | Present entitlement arising from reimbursement agreement |
18 | Subdivision C of Division 6D of Part III | Ultimate beneficiary non - disclosure tax on share of net income |
19 | Section 105AA | Additional period for making sufficient distribution |
20 | Section 105AB | Additional period for distribution by liquidator |
21 | Section 121AT | Other tax consequences of demutualisation |
22 | Division 9C of Part III | Assessable income diverted under certain tax avoidance schemes |
23 | Division 10BA of Part III | Australian films |
24 | Section 136AF | Consequential adjustments to assessable income and allowable deductions |
25 | Division 16D of Part III | Certain arrangements relating to the use of property |
26 | Subsection 159GZZZH(2) | Post - cancellation disposals of eligible interests etc. |
27 | Section 160ABB | Rebate in respect of certain payments by the Commonwealth Savings Bank of Australia |
28 | Section 271 - 105 in Schedule 2F | Amounts subject to family trust distribution tax not assessable |
29 | Schedule 2G | Farm management deposits |
4 Subsection 170(10AA) (table item 10)
Repeal the item.
5 Subsection 170(10AA) (after table item 20)
Insert:
22 | Section 59 - 30 | Repayment of amounts |
6 Subsection 170(10AA) (table item 210)
Repeal the item.
7 Subsection 170(10AB)
Repeal the subsection.
8 Subsection 170(13)
Repeal the subsection.
9 Subsection 170(14)
Insert:
"limited amendment period" , for an assessment, means the period within which the Commissioner may amend the assessment:
(a) under item 1, 2, 3 or 4 of the table in subsection (1); or
(b) under paragraph (3)(a) or (b).
Note: The following heading to subsection 170(14) is inserted " Definitions ".
10 Subsection 170(14)
Insert:
"scheme" has the meaning given by subsection 995 - 1(1) of the Income Tax Assessment Act 1997 .
11 Subsection 170(14)
Insert:
"scheme benefit" has the meaning given by section 284 - 150 in Schedule 1 to the Taxation Administration Act 1953 .
12 Subsection 170(14)
Insert:
"STS taxpayer" has the meaning given by section 328 - 435 of the Income Tax Assessment Act 1997 .
13 Subsection 170(14) (definition of tax )
Repeal the definition.
14 Section 170A
Repeal the section.
15 Application
The amendments made by this Part apply in relation to assessments for the 2004 - 05 year of income and later years of income.
Income Tax Assessment Act 1936
16 Subsection 6(1) (definition of assessment )
Repeal the definition, substitute:
"assessment" means:
(a) the ascertainment of the amount of taxable income (or that there is no taxable income) and of the tax payable on that taxable income (or that no tax is payable); or
Note 1: A taxpayer does not have a taxable income if the taxpayer's deductions equal or exceed the taxpayer's assessable income: see subsection 4 - 15(1) of the Income Tax Assessment Act 1997 .
Note 2: A taxpayer may have no tax payable on an amount of taxable income if that income is below the tax - free threshold or if the taxpayer's tax offsets reduce the taxpayer's basic income tax liability to nil.
(b) for a taxpayer being the trustee of a unit trust that is a corporate unit trust within the meaning of section 102J--the ascertainment of the net income of the trust as defined by section 102D (or that there is no net income) and of the tax payable on that net income (or that no tax is payable); or
(c) for a taxpayer being the trustee of a unit trust that is a public trading trust within the meaning of section 102R--the ascertainment of the net income of the trust as defined by section 102M (or that there is no net income) and of the tax payable on that net income (or that no tax is payable); or
(d) for any other taxpayer that is the trustee of a trust estate but excluding a taxpayer that is the trustee of a fund or unit trust referred to in paragraph (a), (b) or (c) of the definition of eligible entity in subsection 267(1)--the ascertainment of so much of the net income of the trust estate as is net income in respect of which the trustee is liable to pay tax (or that there is no net income in respect of which the trustee is so liable) and of the tax payable on that net income (or that no tax is payable); or
(e) the ascertainment of the amount of interest payable under section 102AAM (about distributions from non - resident trust estates); or
(f) the ascertainment of an amount of additional tax under section 128TE; or
(g) the ascertainment of an amount of tax under section 159GZZZZH.
17 Section 175A
Before "A", insert "(1)".
18 At the end of section 175A
Add:
(2) A taxpayer cannot object under subsection (1) against an assessment ascertaining that:
(a) the taxpayer has no taxable income; or
(b) the taxpayer has an amount of taxable income and no tax is payable;
unless the taxpayer is seeking an increase in the taxpayer's liability.
19 Application
The amendments made by this Part apply in relation to the 2004 - 05 year of income and later years of income.
Part 3 -- Making assessments for the 2003 - 04 year of income or earlier
Income Tax Assessment Act 1936
20 After section 171
Insert:
(1) If the circumstances set out in column 2 of the following table apply to a taxpayer in relation to the 2003 - 04 year of income (a nil year ) or an earlier year of income (also a nil year ), the Commissioner cannot make an original assessment for that taxpayer for that year in the circumstances set out in column 3:
Making assessments |
| ||
Column 1 | Column 2 | Column 3 | |
1 | The taxpayer's return of income for a nil year disclosed, or the Commissioner has given the taxpayer a notice for a nil year that stated, either of the following: (a) the taxpayer had an amount of taxable income, and that no tax was payable; (b) the taxpayer had no taxable income because the taxpayer's deductions equalled the taxpayer's assessable income; and the taxpayer did not deduct a tax loss in the nil year | The Commissioner cannot make an original assessment for the taxpayer for the nil year after the later of the following: (a) 31 October 2008; (b) the period of 4 years beginning on the day on which the taxpayer lodged the taxpayer's return of income for the nil year. | |
2 | The taxpayer's return of income for a nil year disclosed, or the Commissioner has given the taxpayer a notice for a nil year that stated, either of the following: (a) the taxpayer had an amount of taxable income, and that no tax was payable; (b) the taxpayer had no taxable income because the taxpayer's deductions equalled the taxpayer's assessable income; and the taxpayer did deduct a tax loss in the nil year | The Commissioner cannot make an original assessment for the taxpayer for the nil year after the period of 6 years beginning on the later of the following: (a) the day on which the taxpayer lodged the taxpayer's return of income for the 2004 - 05 year of income or, if the taxpayer is a member of a consolidated group at the end of that year of income, the day on which head company's return of income for that year of income is lodged; (b) the day on which the taxpayer lodged the taxpayer's return of income for the nil year. | |
3 | The taxpayer had a tax loss in a nil year, none of which has been carried forward to the 2004 - 05 year of income | The Commissioner cannot make an original assessment for the taxpayer for the nil year after the period of 6 years beginning on the later of the following: (a) the day on which the taxpayer lodged the taxpayer's return of income for the 2004 - 05 year of income or, if the taxpayer is a member of a consolidated group at the end of that year of income, the day on which head company's return of income for that year of income is lodged; (b) the day on which the taxpayer lodged the taxpayer's return of income for the nil year. | |
4 | (a) the taxpayer had a tax loss in a nil year, some or all of which has been carried forward to the 2004 - 05 year of income; and (b) the taxpayer or, if the taxpayer is a member of a consolidated group at the end of the 2004 - 05 year of income, the head company notifies the Commissioner, in the approved form, that the taxpayer or the head company had a tax loss in the nil year | The Commissioner cannot make an original assessment for the taxpayer for the nil year after the period of 6 years beginning on the later of the following: (a) the day on which the Commissioner received the notification; (b) the day on which the taxpayer lodged the taxpayer's return of income for the nil year. | |
(2) Subsection (1) does not apply in relation to a nil year if:
(a) the Commissioner is of the opinion there has been fraud or evasion; or
(b) had the Commissioner made an assessment, in accordance with the taxpayer's return of income, that the taxpayer had no taxable income or that no tax was payable by the taxpayer (assuming that such an assessment could have been made)--this Act would not have prevented the Commissioner amending the assessment at any time.
Part 4 -- Consequential amendments
Division 1--SPOR taxpayer provisions
Income Tax Assessment Act 1936
21 Subsection 6(1) (definition of shorter period of review taxpayer or SPOR taxpayer )
Repeal the definition.
22 Section 6AD
Repeal the section.
23 Subsection 251R(6D)
Omit "subsections (6F) and (6FA)", substitute "subsection (6F)".
24 Subsections 251R(6F) and (6FA)
Repeal the subsections, substitute:
(6F) Subsection (6D) does not apply, and is taken never to have applied, if the first person fails to retain the family agreement until the end of:
(a) 5 years beginning on the date of lodgment of the first person's return of income for the year of income concerned; or
(b) a shorter period determined by the Commissioner in writing for the first person; or
(c) a shorter period determined by the Commissioner by legislative instrument for a class of persons that includes the first person.
(6FA) A determination under paragraph (6F)(c) may specify different periods for different classes of taxpayers.
25 Application
The amendments made by items 23 and 24 apply in relation to the 2004 - 05 year of income and later years of income.
Income Tax Assessment Act 1997
26 Subsection 995 - 1(1) (definition of SPOR taxpayer )
Repeal the definition.
Taxation Administration Act 1953
27 Subsection 2(1) (definition of SPOR taxpayer )
Repeal the definition.
28 Paragraphs 14ZW(1)(aa) and (aaa)
Repeal the paragraphs, substitute:
(aa) if the taxation objection is made under section 175A of the Income Tax Assessment Act 1936 :
(i) if item 1, 2 or 3 of the table in subsection 170(1) of that Act applies to the assessment concerned--2 years after notice of the assessment is given to the person; or
(ii) otherwise--4 years after notice of the assessment concerned is given to the person; or
(aaa) if the taxation objection is made under section 78A of the Fringe Benefits Tax Assessment Act 1986 or section 160AL of the Income Tax Assessment Act 1936 --4 years after notice of the taxation decision to which it relates has been given to the person; or
29 Subsections 14ZW(1A) and (1AA)
Repeal the subsections, substitute:
(1A) The person cannot lodge a taxation objection against a private ruling that relates to a year of income after the end of whichever of the following ends last:
(a) 60 days after the ruling was made;
(b) whichever of the following is applicable:
(i) if item 1, 2 or 3 of the table in subsection 170(1) of the Income Tax Assessment Act 1936 applies to the person's assessment for that income year--2 years after the last day allowed to the person for lodging a return in relation to the person's income for that year of income;
(ii) otherwise--4 years after that day.
30 Paragraph 14ZW(1B)(b)
Omit "paragraph (1)(aa),", substitute "subparagraph (1)(aa)(ii) or paragraph (1)(aaa),".
31 Paragraph 14ZW(1BA)(b)
Omit "paragraph (1)(aaa)", substitute "subparagraph (1)(aa)(i)".
32 Application
The amendments made by items 28 to 31 apply in relation to taxation decisions made in:
(a) for income tax--the 2004 - 05 income year or a later income year; or
(b) for fringe benefits tax--the year of tax starting on 1 April 2004 or a later year of tax.
33 Subsection 18 - 100(1) in Schedule 1
Repeal the subsection, substitute:
(1) An entity that is given a * payment summary and a copy of it in any financial year under this Part must retain the copy for:
(a) 5 years after the end of that financial year; or
(b) a shorter period determined by the Commissioner in writing for the entity; or
(c) a shorter period determined by the Commissioner by legislative instrument for a class of entities that includes the entity.
(1AA) A determination under paragraph (1)(c) may specify different periods for different classes of entities.
34 Subsection 18 - 100(2) in Schedule 1
Repeal the subsection.
35 Application
The amendments made by items 33 and 34 apply in relation to payment summaries, and copies of payment summaries, given to entities in the financial year beginning on 1 July 2004 and later financial years.
36 Subsection 388 - 65(3) in Schedule 1
Repeal the subsection, substitute:
(3) You must retain the declaration or a copy of it for:
(a) 5 years after it is made; or
(b) a shorter period determined by the Commissioner in writing for you; or
(c) a shorter period determined by the Commissioner by legislative instrument for a class of entities that includes you.
(3A) A determination under paragraph (1)(c) may specify different periods for different classes of entities.
37 Application
The amendment made by item 36 applies to declarations made on or after 1 April 2004.
Division 2--Nil assessment provisions
Income Tax Assessment Act 1936
38 Paragraphs 161AA(a) and (b)
Repeal the paragraphs, substitute:
(a) its taxable income or its net income for that year of income (or that it has no taxable income or net income for that year); and
(b) the amount of the tax payable on that taxable income or net income (or that no tax is payable); and
39 Section 166
After "taxable income", insert "(or that there is no taxable income)".
40 Section 166
After "tax payable thereon", insert "(or that no tax is payable)".
41 Paragraph 166A(3)(c)
Repeal the paragraph, substitute:
(c) the Commissioner is taken to have made an assessment of the taxable income or net income (or an assessment that there is no taxable income or net income), and the tax payable on that income (or that no tax is payable), in accordance with what the taxpayer specified in the return;
42 Subsection 168(1)
After "taxable income derived", insert "(or that there is no taxable income)".
43 Subsection 168(1)
After "tax payable thereon", insert "(or that no tax is payable)".
44 Section 169
After "pay tax", insert "(including a nil liability)".
45 Section 169
After "such tax", insert "(or an assessment that no tax is payable)".
Taxation Administration Act 1953
46 Subsection 18 - 15(1) in Schedule 1
Repeal the subsection, substitute:
(1) A person is entitled to a credit equal to the total of the * amounts withheld from * withholding payments made to the person during an income year if an assessment has been made of the income tax payable, or an assessment has been made that no income tax is payable, by the person for the income year.
47 Paragraph 18 - 20(1)(c) in Schedule 1
Repeal the paragraph, substitute:
(c) an assessment has been made of the income tax payable, or an assessment has been made that no income tax is payable, by the person for the income year.
48 Paragraph 18 - 25(2)(c) in Schedule 1
Repeal the paragraph, substitute:
(c) an assessment has been made of the income tax payable, or an assessment has been made that no income tax is payable, by the beneficiary for the income year.
49 Paragraph 18 - 25(4)(a) in Schedule 1
Before "tax", insert "income".
50 Paragraph 18 - 25(4)(c) in Schedule 1
Repeal the paragraph, substitute:
(c) an assessment has been made of that income tax or an assessment has been made that no income tax is payable.
51 Paragraph 18 - 25(6)(a) in Schedule 1
Before "tax", insert "income".
52 Paragraph 18 - 25(6)(c) in Schedule 1
Repeal the paragraph, substitute:
(c) an assessment has been made of that income tax or an assessment has been made that no income tax is payable.
53 Section 18 - 27 in Schedule 1
Repeal the section, substitute:
18 - 27 Tax credit for alienated personal services payments
A person is entitled to a credit equal to the total of the amounts paid under Division 13 in respect of amounts included in the person's assessable income for an income year under section 86 - 15 of the Income Tax Assessment Act 1997 if an assessment has been made of the income tax payable, or an assessment has been made that no income tax is payable, by the person for the income year.
54 Subsection 45 - 30(1) in Schedule 1
Repeal the subsection, substitute:
(1) You are entitled to a credit when the Commissioner makes an assessment of the income tax you are liable to pay for an income year or an assessment that no income tax is payable by you for an income year.
55 Subsection 45 - 30(3) in Schedule 1
Omit "or determination".
56 Subsection 45 - 865(1) in Schedule 1
Repeal the subsection, substitute:
(1) When the Commissioner makes an assessment:
(a) of the income tax that the * head company of a * consolidated group is liable to pay for a * consolidation transitional year for the head company; or
(b) that no income tax is payable by the head company for that year;
the head company is, in addition to any credit to which it is entitled under section 45 - 30 for that year, entitled to a credit in relation to instalments payable by an entity that is a * subsidiary member of the group at any time during that year.
Taxation (Interest on Overpayments and Early Payments) Act 1983
57 Subsections 8K(1) and (2)
Repeal the subsections.
58 Subsection 8K(3)
Omit "(3)".
59 Application
The amendments made by this Division apply in relation to the 2004 - 05 year of income and later years of income.
Child Support (Assessment) Act 1989
60 Subsection 56(3)
Omit "subsection 170(2) (Amendment of assessments because of tax avoidance) of the Income Tax Assessment Act 1936 ", substitute "subsection 170(1) (amendment of assessments) of the Income Tax Assessment Act 1936 to increase the person's taxable income".
61 Application
The amendment made by item 60 applies in relation to assessments for the 2004 - 05 year of income and later years of income.
Income Tax Assessment Act 1936
62 Subsection 128TE(5)
Omit "170,".
63 Subsection 159GZZZZH(4)
Omit "170,".
64 Subsection 177G(1)
Repeal the subsection.
65 Subsection 177G(2)
Omit "(2)".
66 Paragraph 262A(4)(b)
Omit "paragraph 170(2)(b)", substitute "section 170".
67 Paragraph 262A(4)(b)
Omit "by virtue of an order of the Federal Court of Australia made under subsection 170(4A) or the consent of the person given under subsection 170(4B)", substitute "under subsection 170(7)".
68 Application
The amendments made by items 64 to 67 apply in relation to assessments for the 2004 - 05 year of income and later years of income.
69 Paragraph 245 - 265(4)(b) in Schedule 2C
Omit "paragraph 170(2)(b)", substitute "section 170".
70 Paragraph 245 - 265(4)(b) in Schedule 2C
Omit "by an order of the Federal Court of Australia made under subsection 170(4A) or by the consent of the person given under subsection 170(4B)", substitute "under subsection 170(7)".
71 Paragraph 245 - 265(7)(b) in Schedule 2C
Omit "paragraph 170(2)(b)", substitute "section 170".
72 Paragraph 245 - 265(7)(b) in Schedule 2C
Omit "by an order of the Federal Court of Australia made under subsection 170(4A) or by the consent of the company given under subsection 170(4B)", substitute "under subsection 170(7)".
73 Application
The amendments made by items 69 to 72 apply in relation to assessments for the 2004 - 05 year of income and later years of income.
Income Tax (Transitional Provisions) Act 1997
74 Paragraph 830 - 15(2)(d)
After " Income Tax Assessment Act 1936 ", insert "(as in force before the day on which the Tax Laws Amendment (Improvements to Self Assessment) Act (No. 2) 2005 received the Royal Assent)".