Document ID: chunk:federal_register_of_legislation:C2015C00338:clause:2_1:p4
Version: federal_register_of_legislation:C2015C00338
Segment Type: clause
Provision Reference: sch 2 cl 1 (pt 4/5)
Character Range: 89612–92366

Commissioner may amend (the later amendment) the amended assessment after the end of the *period of review for the assessment, if:
 (a) the Commissioner makes the later amendment before the end of the period of 4 years starting on the day after the day on which the Commissioner gave notice of the last of the amendments mentioned in subsection (1) to you under section 155‑10; and
 (b) the later amendment is about the particular mentioned in subsection (1) of this section; and
 (c) the Commissioner has not previously amended the assessment under this section about that particular.

General rules

155‑75  Refunds of amounts overpaid
 (1) This section applies if:
 (a) an assessment of an *assessable amount of yours is amended; and
 (b) as a result of the amendment, a *tax‑related liability (the earlier liability) of yours is reduced.
 (2) For the purposes of any *taxation law that applies the *general interest charge, the amount by which the *tax‑related liability is reduced is taken never to have been payable.
Note 1: The general interest charge is worked out under Part IIA of this Act.
Note 2: Subsection 8AAB(4) of this Act lists the provisions that apply the charge.
 (3) The Commissioner must apply the amount of any *tax‑related liability overpaid in accordance with Divisions 3 and 3A of Part IIB of this Act (about running balance accounts and the application of payments and credits).
 (4) However, if:
 (a) a later amendment of an assessment of an *assessable amount is made; and
 (b) all or some of your earlier liability in relation to a particular is reinstated;
this section is taken not to have applied to the extent that the earlier liability is reinstated.

155‑80  Amended assessments are assessments
  An amended assessment of an *assessable amount is an assessment for all purposes of any *taxation law.
Note: The Commissioner must give notice of the amended assessment under section 155‑10. Under section 155‑40, an application for an amendment is treated as being a notice of the amendment in certain circumstances.

Subdivision 155‑C—Validity and review of assessments

Table of sections
155‑85 Validity of assessment
155‑90 Review of assessments

155‑85  Validity of assessment
  The validity of any assessment of an *assessable amount is not affected by non‑compliance with the provisions of this Act or of any other *taxation law.

155‑90  Review of assessments
 (1) You may object, in the manner set out in Part IVC of this Act, against an assessment of an *assessable amount of yours if you are dissatisfied with the assessment.
 (2) You cannot object under subsection (1) against an assessment ascertaining that:
 (a) you have no *taxable mining profit for an *MRRT year; or
 (b) you have a taxable mining profit