Income Tax Assessment Act 1997
View history note
Hide history note[ CCH Note: Div 421 will be inserted by No 9 of 2025, s 3 and Sch 1 item 3, effective the later of: (a) the first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent; and (b) the first 1 January, 1 April, 1 July or 1 October to occur after the day the Future Made in Australia (Guarantee of Origin) Act 2024 commences. However, the provisions do not commence at all if the event mentioned in paragraph (b) does not occur.]
[ CCH Note: Subdiv 421-C will be inserted by No 9 of 2025, s 3 and Sch 1 item 3, effective the later of: (a) the first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent; and (b) the first 1 January, 1 April, 1 July or 1 October to occur after the day the Future Made in Australia (Guarantee of Origin) Act 2024 commences. However, the provisions do not commence at all if the event mentioned in paragraph (b) does not occur.]
Section 170 of the Income Tax Assessment Act 1936 does not prevent the amendment of an entity ' s assessment for the purposes of giving effect to this Division for an income year if:
(a) the Clean Energy Regulator:
(i) issues, or revokes, a * correction notice under section 421-40 ; or
(ii) makes an instrument under section 421-65 revoking a certification of a * production profile, with effect from a specified time (which may be different from the time when the instrument is made); and
(b) as a result, there is a change to:
(i) whether the entity is entitled to a * hydrogen production tax offset for the income year; or
(ii) the amount of hydrogen production tax offset that the entity is entitled to for the income year; and
(c) the amendment of the entity ' s assessment is made during the period of 4 years starting on the day when the Clean Energy Regulator issues or revokes the correction notice, or makes the instrument revoking the certification of the production profile (whichever applies).
Note:
Section 170 of the Income Tax Assessment Act 1936 specifies the periods within which assessments may be amended.
[ CCH Note: S 421-85 will be inserted by No 9 of 2025, s 3 and Sch 1 item 3, effective the later of: (a) the first 1 January, 1 April, 1 July or 1 October to occur after the day this Act receives the Royal Assent; and (b) the first 1 January, 1 April, 1 July or 1 October to occur after the day the Future Made in Australia (Guarantee of Origin) Act 2024 commences. However, the provisions do not commence at all if the event mentioned in paragraph (b) does not occur.]
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.
