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INCOME TAX AMENDMENT REGULATIONS 2010 (NO. 1) (SLI NO 7 OF 2010)

- Registered on FRLII: 11 February 2010
- Department:Treasury
- Description:These Regulations amend the Income Tax Regulations 1936 (the Regulations) to preserve the effect of table item 4 in regulation 20 to the Regulations. Table item 4 provides that the Commissioner of Taxation (the Commissioner) may amend an individual taxpayer's income tax assessment for up to four years, rather than two, if an employee share scheme integrity rule about share trading and investment companies is not met (subsection 83A-35(5) of the Income Tax Assessment Act 1997). This ensures that the period over which the Commissioner can amend the taxpayer's income tax assessment is aligned with the period over which he can amend the taxpayer's employer's income tax assessment.

TABLE OF PROVISIONS

   1.      Name of Regulations  
   2.      Commencement  
   3.      Amendment of Income Tax Regulations 1936  
           SCHEDULE 1 Amendments

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