9Reassessment

#### 9 Reassessment 9 Reassessment > > (1) The Chief Commissioner may make one or more reassessments of a tax liability of a taxpayer. > > > (2) A reassessment of a tax liability is to be made in accordance with the legal interpretations and assessment practices generally applied by the Chief Commissioner in relation to matters of that kind at the time the tax liability arose except to the extent that any departure from those interpretations and practices is required by a change in the law (whether legislative or non-legislative) made after that time. > > > (3) The Chief Commissioner cannot make a reassessment of a tax liability more than 5 years after the initial assessment of the liability, unless— > > > > > (a) the reassessment is to adjust tax to give effect to a decision on an objection or review as to an assessment, or > > > > > (b) at the time the initial assessment or a reassessment was made, all the facts and circumstances affecting the liability under the relevant taxation law of the person in respect of whom the assessment or reassessment was made were not fully and truly disclosed to the Chief Commissioner and, as a result, the tax liability was assessed at a lower amount, or > > > > > (c) the reassessment is authorised to be made more than 5 years after the initial assessment by another taxation law, or > > > > > (d) the reassessment is made as a consequence of an application by a taxpayer, being an application made within 5 years after the initial assessment of the liability, and the reassessment reduces the tax liability. > > > (4) The initial assessment of a tax liability remains the initial assessment of the liability for the purposes of this Act even if it is withdrawn under section 13. > > **s 9:** Am 1998 No 44, Sch 6 \[1\]; 1999 No 10, Sch 6 \[1\]; 2000 No 51, Sch 7 \[1\]; 2000 No 72, Sch 2 \[6\]; 2023 No 18, Sch 9\[2\] \[3\].