Document ID: chunk:federal_register_of_legislation:C2010C00233:clause:4_27
Version: federal_register_of_legislation:C2010C00233
Segment Type: clause
Provision Reference: sch 4 cl 27
Character Range: 177776–178568

27  Subsection 56(3)
Repeal the subsection, substitute:

 (3) Subsection (2) does not apply in relation to a person if the amendment is made:
 (a) under subsection 170(1) (amendment of assessments) of the Income Tax Assessment Act 1936 to increase the person's taxable income; or
 (b) under a provision of that Act or the Income Tax Assessment Act 1997 prescribed for the purposes of this subsection; or
 (c) in circumstances prescribed for the purposes of this subsection.
If such an amendment is made, the person's taxable income under either the Income Tax Assessment Act 1936 or the Income Tax Assessment Act 1997 for the year of income is to be taken for this Act to be, and always to have been, the person's taxable income for that year as last so assessed under either of those Acts.