Document ID: chunk:federal_register_of_legislation:C2010C00609:clause:1_10
Version: federal_register_of_legislation:C2010C00609
Segment Type: clause
Provision Reference: sch 1 cl 10
Character Range: 6139–6878

10  After subsection 102AAM(13)
Insert:

 (13A) If:
 (a) a taxpayer is an instalment taxpayer (as defined in subsection 221AZK(1)) for the assessment year of income; and
 (b) the taxpayer lodges a return for that year;
then:
 (c) the Commissioner is taken to have made an assessment of the interest payable by the taxpayer under this section for the year, equal to the amount specified in the return as the interest so payable; and

Note: If any interest is so payable, the return must specify the amount: see paragraph 221AZS(c).
 (d) the assessment is taken to have been made on the day on which the return is lodged; and
 (e) the return is taken to be a notice of that assessment given to the taxpayer by the Commissioner on that day.