Tax and Superannuation Laws Amendment (2014 Measures No. 7) Act 2015 (21 of 2015)
4 Amendment of assessments
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an assessment if:
(a) the assessment was made before the commencement of Schedule 3 (about CGT exemption for compensation and insurance) to this Act; and
(b) the amendment is made for the purpose of giving effect to that Schedule; and
(c) the amendment is made within 2 years after the day that Schedule commences.
Note: The 2-year period in paragraph (c) can be extended (see section 170A of the Income Tax Assessment Act 1936).