Document ID: chunk:federal_register_of_legislation:C2006C00470:clause:1_4
Version: federal_register_of_legislation:C2006C00470
Segment Type: clause
Provision Reference: sch 1 cl 4
Character Range: 31634–33333

4                   (a) the taxpayer had a tax loss in a nil year, some or all of which has been carried forward to the 2004‑05 year of income; and                                                                                                                            The Commissioner cannot make an original assessment for the taxpayer for the nil year after the period of 6 years beginning on the later of the following:
                    (b) the taxpayer or, if the taxpayer is a member of a consolidated group at the end of the 2004‑05 year of income, the head company notifies the Commissioner, in the approved form, that the taxpayer or the head company had a tax loss in the nil year  (a) the day on which the Commissioner received the notification;
                                                                                                                                                                                                                                                                               (b) the day on which the taxpayer lodged the taxpayer's return of income for the nil year.

 (2) Subsection (1) does not apply in relation to a nil year if:
 (a) the Commissioner is of the opinion there has been fraud or evasion; or
 (b) had the Commissioner made an assessment, in accordance with the taxpayer's return of income, that the taxpayer had no taxable income or that no tax was payable by the taxpayer (assuming that such an assessment could have been made)—this Act would not have prevented the Commissioner amending the assessment at any time.

Part 4—Consequential amendments

Division 1—SPOR taxpayer provisions

Income Tax Assessment Act 1936