DUTIES ACT 1997 - SECT 297
Stamping taken to constitute assessment
DUTIES ACT 1997 - SECT 297
Stamping taken to constitute assessment
297 Stamping taken to constitute assessment
(1) 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.
(2) 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).