Income Tax Assessment Act 1997



Division 276 - Australian managed investment trusts: attribution managed investment trusts  

Subdivision 276-F - Unders and overs  

Unders and overs

SECTION 276-350   276-350   Limited discovery period for unders and overs  

Despite section 276-345 , an *AMIT does not have an *under or an *over of a particular character for an income year (the base year ) if:

(a) assuming the Commissioner made an assessment of the *trust component of that character on the day on which the document stating the AMIT ' s *determined trust component of that character for the base year was created; and

(b) assuming the assessment had not been amended at the discovery time mentioned in subsection 276-345(2) for the under or over;

section 170 of the Income Tax Assessment Act 1936 would prevent the assessment from being amended to take account of the under or over.


Section 170 of the Income Tax Assessment Act 1936 specifies the usual period within which assessments may be amended.


Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.