INCOME TAX ASSESSMENT ACT 1997

CHAPTER 4 - INTERNATIONAL ASPECTS OF INCOME TAX  

PART 4-5 - GENERAL  

Division 815 - Cross-border transfer pricing  

Subdivision 815-B - Arm ' s length principle for cross-border conditions between entities  

Operative provisions

SECTION 815-150   Amendment of assessments  

815-150(1)  
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment of an entity for an income year if:


(a) the amendment is made within 7 years after the day on which the Commissioner gives notice of the assessment to the entity; and


(b) the amendment is made for the purpose of giving effect to section 815-115 .

815-150(2)  
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment at any time for the purpose of giving effect to section 815-145 .


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