Section 959 — Income Tax Act 2007: Application of Income Tax Acts provisions about time limits for assessments

Application of Income Tax Acts provisions about time limits for assessments 959 1 This section deals with the application of the provisions of the Income Tax Acts about time limits for making assessments.

2 So far as the provisions refer or relate to—

a the tax year for which an assessment is made, or b the year to which an assessment relates, they apply to assessments under this Chapter despite the fact that an assessment under this Chapter may relate to a return period which is not a tax year.

3 Subsection (4) applies if an assessment under this Chapter relates to income tax due in respect of a payment required to be included in a return for a return period under section 949 (payments in an accounting period).

4 In that case, for the purposes of the provisions mentioned in subsection (1), the assessment is treated as made for the tax year in which the return period ends.

5 Subsection (6) applies if an assessment under this Chapter relates to income tax due in respect of a payment required to be included in a return under section 950 (payments otherwise than in an accounting period).

6 In that case, for the purposes of the provisions mentioned in subsection (1), the assessment is treated as made for the tax year in which payment is made.