S 300A repealed by No 15 of 2007, s 3 and Sch 1 item 8, applicable to the 2007-08 income year and later years. S 300A formerly read:
SECTION 300A ASSESSMENT AS IF ENTITY WERE A COMPLYING SUPERANNUATION FUND, COMPLYING ADF OR PST
300A(1)
[Assessment as if notice given]
Where:
(a)
at the time when the Commissioner is making an assessment in relation to a fund or a unit trust for a particular year of income, the fund or unit trust is not a complying superannuation fund, complying ADF or PST in respect of the year of income; and
(b)
the Commissioner considers it likely that a notice will be given under section
40
of the SIS Act having the effect that the fund or unit trust will be a complying superannuation fund, complying ADF or PST in respect of the year of income;
the Commissioner may make the assessment as if such a notice had been given.
History
S 300A(1) amended by No 82 of 1993.
300A(2)
[Amendment of assessment]
Where:
(a)
the Commissioner makes the assessment as if the notice had been given; and
(b)
either:
(i)
the Australian Prudential Regulation Authority has not received the return and certificates referred to in subsection
36(1)
of the SIS Act in relation to the fund or unit trust in respect of the year of income by the end of 12 months after the Commissioner of Taxation makes the assessment; or
(ii)
the Commissioner of Taxation becomes satisfied that the notice will not be given;
then, notwithstanding section
170
, of this Act, the Commissioner of Taxation may amend the assessment for the purpose of ensuring that this Act applies as if the application of subsection (1) in relation to the fund or unit trust for the year of income were disregarded.
S 300A amended by No 48 of 1998, No 82 of 1993 and inserted by No 105 of 1989.
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