Be Wary of the 4 Year Amendment Period

Pursuant to section 170 of the Income Tax Assessment Act 1936, it would seem that the standard amendment period for an individual taxpayer is 2 years.  However, in reality, it will rarely be the case that individual taxpayers do in fact have a 2 year amendment period and will instead most likely default to a 4 year amendment period as a result of the application of section 170(1) and the court case of Yazbek.

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