The notice of assessment we send you is an itemised account of the amount of tax you owe on your taxable income. It also contains other details that are not part of the assessment, such as the amount of credit for tax you have already paid throughout the income year.
When you receive your notice of assessment, you should make sure that everything is correct.
Unless you are using electronic funds transfer (EFT), the bottom section of your notice of assessment will be either your refund cheque or, if you owe tax, your payment advice.
Note
Under the law we have some time during which we can review your tax return. During this time, we may increase or decrease the amount of tax payable (or refundable) as shown on your initial notice of assessment. This review period is normally two years but in certain circumstances it can be four years (see Self-assessment and the taxpayer).
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