Clause 56

by inserting, immediately after subsection (2), the following subsections:“(2A) If the objection is made to any assessment, being one which —

is made on or after the date the Income Tax (Amendment) Act 2011 is published in the Gazette; and

amends a previous assessment in any particular,then a person’s right to object to the assessment is limited to a right to object against the amendment in respect of, or matters relating to, that particular.(2B) In subsection (2A), the reference to an assessment which amends a previous assessment in any particular includes one which amends the amount of unabsorbed losses, allowances or donations in that previous assessment that may be carried forward but the tax payable remains nil.”;

by deleting the words “, if any tax is payable,” in subsection (6)(b);

by deleting the words “as desired by that person” in subsection (6)(b); and

by inserting, immediately after the words “tax payable” in subsection (6)(b), the words “, or the amount of refund of tax (as a result of the operation of section 46) or unabsorbed allowances, losses or donations,”.