Document ID: chunk:federal_register_of_legislation:C2006C00470:clause:1_2
Version: federal_register_of_legislation:C2006C00470
Segment Type: clause
Provision Reference: sch 1 cl 2
Character Range: 14267–16760

2                              The Commissioner amends the earlier assessment about a particular in a way that:                                                                                                                      The Commissioner may amend the later assessment about that particular in a way that reduces the taxpayer's liability.
                               (a) increases a taxpayer's liability; or
                               (b) reduces a taxpayer's liability (other than in a case covered by item 1)

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: