Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:28_3:p6
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 28 cl 3 (pt 6/10)
Character Range: 408918–411619

Later amendments—fraud or evasion
214‑125 Further amendment of an amended particular
214‑130 Other later amendments
214‑135 Amendment on review etc.
214‑140 Notice of amendments

[This is the end of the Guide.]

Operative provisions

214‑95  Amendments within 3 years of the original assessment

 (1) The Commissioner may amend a *franking assessment for a *corporate tax entity for an income year at any time during the period of 3 years after the *original franking assessment day for the entity for that year.

 (2) The original franking assessment day for a *corporate tax entity for an income year is the day on which the first *franking assessment for the entity for the income year is made.

214‑100  Amended assessments are treated as franking assessments

  Once an amended *franking assessment for a corporate tax entity for an income year is made, it is taken to be a franking assessment for the entity for the year.

214‑105  Further return as a result of a refund affecting a franking deficit tax liability

 (1) If:
 (a) a *franking assessment for a *corporate tax entity for an income year has been made; and
 (b) on a particular day (the further return day) the entity gives the Commissioner a further return for the income year under subsection 214‑45(1) (because the entity has received a *refund of income tax that affects its liability to pay *franking deficit tax);
the Commissioner is taken to have amended the entity's franking assessment on the further return day, and to have assessed:
 (c) the entity's *franking account balance at a particular time as that stated in the further return as the balance at that time; and
 (d) the entity's *venture capital sub‑account balance (if any) at a particular time as that stated in the further return as the balance at that time; and
 (e) the amounts (if any) of *franking tax payable by the entity because of events that have occurred, or are taken to have occurred, during that income year as those stated in the further return.

 (2) The further return is taken to be notice of the amended assessment signed by the Commissioner and given to the entity on the further return day.

214‑110  Later amendments—on request

  The Commissioner may amend a *franking assessment for a *corporate tax entity for an income year after the end of the period of 3 years after the *original franking assessment day for the entity for the year if, within that 3 year period:
 (a) the entity applies for the amendment; and
 (b) the entity gives the Commissioner all the information necessary for making the amendment.

214‑115  Later amendments—failure to make proper disclosure

 (1) If:
 (a) a *corporate tax entity does not make a full and