TAXATION ADMINISTRATION ACT 1953

SCHEDULE 1 - COLLECTION AND RECOVERY OF INCOME TAX AND OTHER LIABILITIES  

Note: See section 3AA .

Chapter 4 - Generic assessment, collection and recovery rules  

PART 4-1 - RETURNS AND ASSESSMENTS  

Division 155 - Assessments  

Subdivision 155-A - Making assessments  

SECTION 155-5   COMMISSIONER MAY MAKE ASSESSMENT  

155-5(1)  
The Commissioner may at any time make an assessment of an * assessable amount (including an assessment that the amount is nil).

Note 1:

For amendment of assessments, see Subdivision 155-B .

Note 2:

An assessment can be reviewed: see Subdivision 155-C .

155-5(2)  
Each of the following is an assessable amount:


(a) a * net amount;


(b) a * net fuel amount;


(c) an amount of * indirect tax not included in an amount covered by another paragraph of this subsection;


(d) a credit under an * indirect tax law not included in an amount covered by another paragraph of this subsection;


(e) (Repealed by No 96 of 2014)


(f) an amount of *Division 293 tax payable for an income year in relation to an individual ' s *taxable contributions for the income year;


(g) an amount of *excess exploration credit tax for an income year;


(h) an amount of *excess transfer balance tax payable for an *excess transfer balance period;


(i) an amount of levy under the Major Bank Levy Act 2017 for a *quarter;


(j) an amount of *diverted profits tax;


(k) an amount of *first home super saver tax for an income year.

Note:

This Division has a modified operation in relation to diverted profits tax (see Division 145 ).


 

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