Document ID: chunk:federal_register_of_legislation:C2010C00604:clause:28_13:p4
Version: federal_register_of_legislation:C2010C00604
Segment Type: clause
Provision Reference: sch 28 cl 13 (pt 4/7)
Character Range: 428238–430983

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 amount of franking deficit tax payable by the entity because of events that have occurred, or are taken to have occurred, during the period 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.

214‑50  Later amendments—on request

  The Commissioner may amend a franking assessment for the entity for the balancing period after the end of a period of 3 years after the original franking assessment day 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.

214‑55  Later amendments—failure to make proper disclosure

  If:
 (a) the entity does not make a full and true disclosure to the Commissioner of the information necessary for a franking assessment for the entity for the balancing period; and
 (b) in making the assessment, the Commissioner makes an under‑assessment; and
 (c) the Commissioner is not of the opinion that the under‑assessment is due to fraud or evasion;
the Commissioner may amend the assessment at any time during the period of 6 years after the original franking assessment day.

214‑60  Later amendments—fraud or evasion

  If:
 (a) the entity does not make a full and true disclosure to the Commissioner of the information necessary for a franking assessment for the entity for the balancing period; and
 (b) in making the assessment, the Commissioner makes an under‑assessment; and
 (c) the Commissioner is of the opinion that the under‑assessment is due to fraud or evasion;
the Commissioner may amend the assessment at any time.

214‑65  Further amendment of an amended particular

  If:
 (a) a franking assessment for the entity for the balancing period has been amended (the first amendment) in any particular; and
 (b) the Commissioner is of the opinion that it would be just to further amend the assessment in that particular so as to reduce the assessment;
the Commissioner may do so within a period of 3 years after the first amendment.

214‑70  Other later amendments

  In a case not covered by sections 214‑50, 214‑55, 214‑60 or 214‑65, the Commissioner may amend the franking assessment for the entity for the balancing period after the period of 3 years after the original assessment day has expired, but not so as to reduce the assessment.

214‑75  Amendment on review etc.

  Nothing in this Division prevents the amendment of a franking assessment