Document ID: chunk:federal_register_of_legislation:C2025C00120:section:72
Version: federal_register_of_legislation:C2025C00120
Segment Type: section
Provision Reference: s 72
Character Range: 356223–357293

72  First return deemed to be an assessment
  Where:
 (a) at a particular time, a return under this Act in relation to an employer in relation to a year of tax is furnished; and
 (b) before that time, no return has been furnished, and no assessment has been made, in relation to the employer in relation to the year of tax;
the following provisions have effect:
 (c) the Commissioner shall be deemed at that time to have made an assessment (in this section referred to as the deemed assessment) of:
 (i) the fringe benefits taxable amount (including a nil amount) of the employer of the year of tax; and
 (ii) the amount (including a nil amount) of tax payable on that fringe benefits taxable amount;
  being those respective amounts as specified in the return referred to in paragraph (a);
 (d) the return referred to in paragraph (a) shall be deemed to be a notice of the deemed assessment and to be under the hand of the Commissioner;
 (e) the notice referred to in paragraph (d) shall be deemed to have been served at that time on the person liable to pay the tax.