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  • Amendments to previous years

    There are rules that limit the Commissioner's ability to amend an assessment for a year prior to the 2008–09 income year. This relates to amendments to treat a gain or loss from an asset as being on revenue account or on capital account.

    However, these rules only apply if:

    • there is a capital treatment election in force for the 2008–09 income year, and
    • the gain or loss that arose in the previous income year would have been subject to capital treatment had the election been in force for that previous year.

    The rules do not apply if an entity gives the Commissioner a written consent to the amendment.

      Last modified: 09 May 2016QC 23181