FRINGE BENEFITS TAX ASSESSMENT ACT 1986

PART V - RETURNS AND ASSESSMENTS  

Division 2 - Assessments  

SECTION 72   72   FIRST RETURN DEEMED TO BE AN ASSESSMENT  
Where:


(a) at a particular time, a return under this Act in relation to an employer in relation to a year of tax is furnished; and


(b) before that time, no return has been furnished, and no assessment has been made, in relation to the employer in relation to the year of tax;

the following provisions have effect:


(c) the Commissioner shall be deemed at that time to have made an assessment (in this section referred to as the deemed assessment ) of:


(i) the fringe benefits taxable amount (including a nil amount) of the employer of the year of tax; and

(ii) the amount (including a nil amount) of tax payable on that fringe benefits taxable amount;
being those respective amounts as specified in the return referred to in paragraph (a);


(d) the return referred to in paragraph (a) shall be deemed to be a notice of the deemed assessment and to be under the hand of the Commissioner;


(e) the notice referred to in paragraph (d) shall be deemed to have been served at that time on the person liable to pay the tax.




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