12 (1) The Minister may make an assessment of an amount of tax or penalty required under this Act, together with any interest imposed thereon under this Act, (a) if a person responsible for the payment of tax fails to pay it as required under this Act; (b) if a person required by section 5.1 to collect and remit tax to the Minister fails to remit the tax as required under this Act or if the amount remitted is not, in the opinion of the Minister, substantiated by the person’s records; or (c) if a person is liable to pay tax or a penalty imposed under this Act.  2004. c. 31, Sched. 21, s. 18 (1). Notice of assessment (2) Where the Minister has made an assessment under subsection (1), the Minister shall send by mail or by registered mail or deliver by personal service a notice of assessment to the person so assessed, and the amount of the assessment shall be remitted to the Minister by the person so assessed within thirty days from the date of mailing or delivery of the notice of assessment.  R.S.O. 1990, c. L.6, s. 12 (2). Idem (3) Where the Minister has made an assessment under subsection (1), the notice of assessment may provide that the amount assessed is payable forthwith.  R.S.O. 1990, c. L.6, s. 12 (3). Limitation on assessment (4) The Minister may assess or reassess any person for any tax payable by the person under this Act within four years from the day the tax became payable, except that, where the Minister establishes that a person has made any misrepresentation that is attributable to neglect, carelessness or wilful default, or has committed any fraud, in supplying any information under this Act, in making any affidavit required by this Act, or in omitting to disclose any information, or the person has failed to deliver any return required by this Act, the Minister may assess or reassess at any time the Minister considers reasonable the tax payable by such person.  R.S.O. 1990, c. L.6, s. 12 (4). Exception, waiver of limitation (4.1) Despite subsection (4), the Minister may assess or reassess a person at any time if the person has filed with the Minister a waiver in a form approved by the Minister before the expiry of the time provided in subsection (4).  2004, c. 31, Sched. 21, s. 18 (2). Revocation of waiver (4.2) If a person files a waiver under subsection (4.1), the person may file a notice of revocation of the waiver in a form approved by the Minister.  2004, c. 31, Sched. 21, s. 18 (2). Effect of revocation (4.3) If a person files a notice of revocation of the waiver under subsection (4.2), the Minister shall not issue an assessment or reassessment under subsection (1) in reliance on the waiver more than one year after the date on which the notice of revocation is filed.  2004, c. 31, Sched. 21, s. 18 (2). Waiver, transitional (4.4) Despite subsection (4), if, before December 16, 2004, a person provided the Minister with a written waiver of the time limit, the Minister may assess or reassess the person at any time in respect of the conveyance or disposition to which the waiver applies, and subsections (4.2) and (4.3) apply with necessary modifications in respect of the waiver.  2005, c. 31, Sched. 13, s. 1. Assessment on inspection (5) Where it appears from an inspection, audit or examination of the books of account, records or documents of any person that this Act or the regulations have not been complied with, the person making the inspection, audit or examination shall calculate the amount payable under this Act in such manner and form and by such procedure as the Minister considers adequate and expedient, and the Minister shall assess the amount payable under this Act.  R.S.O. 1990, c. L.6, s. 12 (5); 2004, c. 31, Sched. 21, s. 18 (3). Deemed tax (5.1) A debt due to the Crown under section 8.1 of the Financial Administration Act in respect of a payment or remittance under this Act shall be deemed, when the Minister so assesses, to be tax payable under this Act by the person from whom the payment or remittance is payable, and may be collected and enforced as tax under this Act, except that sections 13 and 14 do not apply.  1994, c. 18, s. 4 (18). Notice of assessment (6) The Minister shall send by mail or by registered mail or deliver by personal service a notice of the assessment made under subsection (4), (5) or (5.1) to the person so assessed at the person’s latest known address, and the notice may provide that the amount assessed is payable forthwith.  R.S.O. 1990, c. L.6, s. 12 (6); 1994, c. 18, s. 4 (19). Liability to tax not affected (7) Liability to pay an amount under this Act is not affected by an incorrect or incomplete assessment or by the fact that no assessment has been made.  R.S.O. 1990, c. L.6, s. 12 (7); 2004, c. 31, Sched. 21, s. 18 (4). Minister not bound by information (8) The Minister is not bound by any information delivered by or on behalf of a person responsible for the payment of an amount under this Act and may, despite any information that has been delivered or if no information has been delivered, assess the amount payable under this Act.  2004, c. 31, Sched. 21, s. 18 (5). Assessment valid and binding (9) An assessment, subject to being varied or vacated on an objection or appeal and subject to a reassessment, shall be deemed to be valid and binding despite any error, defect or omission therein or in any proceeding under this Act relating thereto.  R.S.O. 1990, c. L.6, s. 12 (9). Idem (10) The amount of any assessment is payable within the time required by the notice of assessment whether or not an objection or appeal from the assessment is made or taken.  R.S.O. 1990, c. L.6, s. 12 (10). Security given under s. 5.1 (3) (11) If the Minister assesses a person who has furnished security under subsection 5.1 (3), all or part of the security may be paid into the Consolidated Revenue Fund in satisfaction of all or part of the person’s assessed liability.  2004. c. 31, Sched. 21, s. 18 (6). Section Amendments with date in force (d/m/y) 1994, c. 18, s. 4 (18, 19) - 23/06/1994; 1996, c. 29, s. 21 - 09/12/1996 2004, c. 31, Sched. 21, s. 18 (1-6) - 16/12/2004 2005, c. 31, Sched. 13, s. 1 - 16/12/2004 General anti-avoidance rule