INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 41.45 Commissioner may amend assessment after recoupment despite section 170 of the Income Tax Assessment Act 1936

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INCOME TAX ASSESSMENT ACT 1997 No. 38 of 1997 - SECT 41.45

Commissioner may amend assessment after recoupment despite section 170 of the Income Tax Assessment Act 1936

Section 170 of the Income Tax Assessment Act 1936 does not stop the
Commissioner amending, at any time, an assessment of the transferee, if
section 330- 585 (which is about the recoupment of capital expenditure) has
applied to:

   (a)  the transferor; or

   (b)  if there have been 2 or more prior applications of this Common
        rule-any of the prior transferors of the property.

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