Document ID: chunk:federal_register_of_legislation:C2019C00124:clause:8_3:p3
Version: federal_register_of_legislation:C2019C00124
Segment Type: clause
Provision Reference: sch 8 cl 3 (pt 3/3)
Character Range: 190806–192096

of the payment in its assessable income for that income year.
 (5) For the purposes of section 118‑20 of the Income Tax Assessment Act 1997, treat this section as being in Part 3‑1 of that Act.
Note: Section 118‑20 deals with reducing capital gains if an amount is otherwise assessable.

276‑755  Payment by trustee before 1 July 2011—limit on amendment of assessment
 (1) This section applies if:
 (a) a trust becomes an AMIT for an income year; and
 (b) the trustee of the trust made a payment to an entity at a time before 1 July 2011.
 (2) The Commissioner cannot amend the entity's assessment for the income year in which the payment was made in a particular way if:
 (a) the effect of the amendment would be to increase the entity's assessable income for that income year; and
 (b) the Commissioner could not amend the assessment in that way if the following provisions were in operation at the time the payment was made:
 (i) sections 104‑107F, 104‑107G and 104‑107H of the Income Tax Assessment Act 1997;
 (ii) any other provision of that Act, to the extent that it relates to the operation of the provisions mentioned in subparagraph (i); and
 (c) the entity has not requested the Commissioner to amend the assessment in that way.

Tax Laws Amendment (2011 Measures No. 5) Act 2011