INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART IIIAA - FRANKING OF DIVIDENDS  

Division 8 - Returns and assessments  

Subdivision B - Assessments  

SECTION 160ARHA  

160ARHA   DEFICIT DEFERRAL TAX RETURN TAKEN TO BE AN ASSESSMENT  
If, at a particular time (the ``return time'' ), a return (the ``deficit deferral tax return'' ) under section 160AREA is lodged by a company, the following provisions have effect:

(a) the Commissioner is taken, at the return time, to have made an assessment (the ``deficit deferral tax assessment'' ) of any deficit deferral tax payable by the company, being the amount as specified in the deficit deferral tax return;

(b) the deficit deferral tax return is taken to be a notice of the deficit deferral tax assessment and to be signed by the Commissioner;

(c) the notice of the deficit deferral tax assessment is taken to have been served on the company at the return time.