This paper discusses how to deal with tax risk - close all assessments. Including:
- when does an assessment arise?
- the effect of electronic lodgement
- amendment periods (s170)
- extension of normal amendments periods (s170(4A))
- position of losses - TD2004/24, Ryan; Re BCD technologies
- position of nil income
- effect of not lodging returns
- making certain you have an assessment
- the effect of the consolidations regime.