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Draft Taxation Determination

TD 95/D18

Income tax: is subsection 170(10) of the Income Tax Assessment Act 1936 subject to the requirements of subsection 170(6)?

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FOI status:

draft only - for comment

Preamble

Draft Taxation Determinations (TDs) present the preliminary, though considered, views of the ATO. Draft TDs may not be relied on; only final TDs are authoritative statements of the ATO.

1. No. Subsection 170(10) states that 'Nothing in the section prevents the amendment, at any time, of an assessment for the purpose of giving effect to the provisions of ...'. It then lists a number of provisions. The requirements for consideration of an application for amendment of an assessment under subsection 170(6) do not have to be met for an amendment to be made under subsection 170(10).

2. For example, subsection 170(10) permits an amendment for the purpose of giving effect to the provisions of Subdivision B of Division 3. Subdivision B provides tax incentives for investment in certain large Australian projects.

3. Such an application for amendment of an assessment under subsection 170(10) does not have to be made within 4 years from when the tax became due and payable under that assessment. Nor is it a requirement that the taxpayer supply to the Commissioner within that 4 year period all information needed for the purpose of deciding the application.

Commissioner of Taxation
4 October 1995

References

ATO references:
NO NAT 95/8132-1

ISSN 1038 - 8982

Related Rulings/Determinations:

TD 95/D18W

Subject References:
amended assessment
power of amendment

Legislative References:
ITAA 170(6)
ITAA 170(10)


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