21
CurrentTime for reassessment decreasing liability for tax
Part 3Assessments of tax
Division 3Reassessments
21 Time for reassessment decreasing liability for tax
(1)
A reassessment decreasing a taxpayer’s liability for tax must be made in the limitation period.
(2)
However, if, within the limitation period, the taxpayer asks for a reassessment to decrease the taxpayer’s liability, the reassessment may be made after the limitation period.
This Act’s bill:Explanatory memorandum
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