Document ID: chunk:federal_register_of_legislation:C2025C00014:section:3
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 3
Character Range: 1535684–1538370

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 a small business entity or medium business entity for that year.                                                                   This item does not apply:
                          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.                                                                                                                                       (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 a small business entity or medium business entity 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 a small business entity or medium business entity 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.