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Have you shut the windows? Time limits on amendment of assessments presentation

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Published on 04 Nov 04 by NEW SOUTH WALES DIVISION, THE TAX INSTITUTE

This paper discusses how to deal with tax risk - close all assessments. Including:

  • when does an assessment arise?
  • the effect of electronic lodgement
  • amendment periods (s170)
  • extension of normal amendments periods (s170(4A))
  • position of losses - TD2004/24, Ryan; Re BCD technologies
  • position of nil income
  • effect of not lodging returns
  • making certain you have an assessment
  • the effect of the consolidations regime.

Author profile

Prof Michael Walpole CTA
Prof Michael Walpole is a Professor of Taxation Law in the School of Accounting, Auditing and Taxation (including Atax) at UNSW Business School. Prior to academic life, Michael was variously a Tax Consultant with Ernst & Young, and was in private practice as a legal practitioner. Michael has authored and co-authored several books, including Proposals for the Reform of the Taxation of Goodwill, Understanding Taxation Law, and Compliance Cost Control. Michael has also written and presented many papers on his research topics to practitioner and academic audiences in Australia and overseas. He is the editor of the Australian Tax Forum and is an International Research Fellow at the Oxford University Centre for Business Tax in the Said Business School, University of Oxford. He has been a visiting Professor at the OECD’s Centre for Tax Policy and Administration and remains involved in its work on GST/VAT. - Current at 21 December 2020
Click here to expand/collapse more articles by Michael WALPOLE.

 

This was presented at NSW Annual Intensive Retreat: Managing tax risk for corporate taxpayers .

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Individual sessions

The ATO Compliance Program 2004-2005

Author(s):  Neil MANN

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Have you shut the windows or are they still open?

Author(s):  Michael WALPOLE

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Tax risk management

Author(s):  Andrew MILLS

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Planning out of control

Author(s):  Greg PRATT

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The consequences for internal and external advisors of becoming 'shadow directors'

Author(s):  John CURRIE

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The rulings system: have you got protection?

Author(s):  Ian STANLEY,  Judy SULLIVAN

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Are you following a shortcut to disaster? Are you doing the right housekeeping?

Author(s):  Mark BRADFORD

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Today's Part IVA - a report card

Author(s):  Robert DEUTSCH

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Avoiding a bum RAP

Author(s):  Prof Robin H WOELLNER

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Gone but not forgotten

Author(s):  Joe LOMBARDO

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What happens if I get it wrong? Am I just down in the dumps or also down in the dock?

Author(s):  David J WILLIAMS

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