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Tuesday, 7 December 1993
Page: 4004


Senator McMULLAN —On 25 November, Senator Watson asked me a question without notice concerning self-assessment. I have an answer from the Treasurer and I seek leave to incorporate it in Hansard.

  Leave granted.

  The answer read as follows

A taxpayer who wishes to vary the ascertainment of taxable income can at any time during the amendment period request that the Commissioner amend an assessment. In general, an amendment can be made at any time up to four years from either the date upon which the tax became due and payable or the date upon which the assessment is deemed to have been made. There are no restrictions on the number of amendments that can be made during the amendment period provided they are considered by the Commissioner to be necessary.

A taxpayer dissatisfied with an assessment can object against that assessment at any time during the objection period. An objection can be lodged at any time up to the later of 60 days from the date of service of a notice of amended assessment or four years from the date of service of the original notice of assessment.

Where the Commissioner amends an assessment to allow an objection either wholly or in part, the Commissioner may of his own volition or at the request of the taxpayer make such further amendments to the assessment as he considers necessary. However, the Commissioner will not generally further amend an assessment in respect of a particular covered by an objection that has been disallowed, unless it is necessary to give effect to a decision of the Administrative Appeals Tribunal or a Court overruling the Commissioner's decision.