Stamping taken to constitute assessment
297 Stamping taken to constitute assessment
For the purposes of the Taxation Administration Act 1996, the stamping of an instrument by the Chief Commissioner is taken to constitute an assessment of the duty payable under this Act in respect of the instrument or the dutiable transaction effected or evidenced by that instrument.
If the Chief Commissioner does not issue a notice of assessment at the time that the instrument is stamped, the stamped instrument is taken, for the purposes of the Taxation Administration Act 1996, to be a notice of assessment.
Note.
The Taxation Administration Act 1996 provides that an objection to an assessment must be lodged within 60 days of service of the notice of assessment (unless late lodgment is permitted by the Chief Commissioner).
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