155‑35 Amendment during period of review155‑35 Amendment during period of review

155‑35 Amendment during period of review

Amendment (1) The Commissioner may amend an assessment of an *assessable amount within the *period of review for the assessment.

Note 1: An amendment of an assessment can be reviewed: see Subdivision 155‑C.

Note 2: This section also applies to amended assessments: see section 155‑80. However, there are limits on how amended assessments can be amended: see sections 155‑65 and 155‑70.

Meaning of period of review and original assessment (2) The period of review, for an assessment of an *assessable amount of yours, is: (a) the period: (i) starting on the day on which the Commissioner gives notice of the *original assessment of the assessable amount to you under section 155‑10; and (ii) ending on the last day of the period of 4 years starting the day after that day; or (b) if the period of review is extended under subsection (4) or (5) of this section—the period as so extended. (3) The original assessment, of the *assessable amount, is the assessment as it was first made. Extensions (4) The Federal Court of Australia may order an extension of the *period of review for an assessment of an *assessable amount of yours for a specified period, if: (a) the Commissioner has started to examine your affairs in relation to the assessment; and (b) the Commissioner has not completed the examination within the period of review for the assessment; and (c) the Commissioner, during the period of review, applies to the Federal Court of Australia for an order extending the period; and (d) the Court is satisfied that it was not reasonably practicable, or it was inappropriate, for the Commissioner to complete the examination within the period of review, because of: (i) any action taken by you; or (ii) any failure by you to take action that it would have been reasonable for you to take. (5) You may, by written notice given to the Commissioner, consent to the extension of the *period of review for an assessment of an *assessable amount of yours for a specified period, if: (a) the Commissioner has started to examine your affairs in relation to the assessment; and (b) the Commissioner has not completed the examination within the period of review for the assessment; and (c) the Commissioner, during the period of review, requests you to consent to extending the period of review. (6) An order may be made under subsection (4), or consent given under subsection (5), in relation to an assessment of an *assessable amount more than once.