Document ID: chunk:federal_register_of_legislation:C2015C00048:clause:2b_33
Version: federal_register_of_legislation:C2015C00048
Segment Type: clause
Provision Reference: sch 2B cl 33
Character Range: 76260–77123

33  Subsection 32G(2)
Repeal the subsection (including the note), substitute:
 (2) If the first individual is or was required to lodge an income tax return, the relevant reconciliation time is the time when an assessment is made under the Income Tax Assessment Act 1936 of the first individual's taxable income for the relevant income year, so long as the first individual's income tax return for the relevant income year was lodged before the end of such further period as the Secretary allows.
 (3) If the first individual is not or was not required to lodge an income tax return, the relevant reconciliation time is the end of the designated date in the next income year.
Note: For designated date, see section 32R.
 (4) The further period referred to in subsection (2) must end no later than the end of the second income year after the relevant income year.