In a press release issued on 22 August 2007, the Minister for Revenue and the Assistant Treasurer, Peter Dutton, announced a review into unlimited amendment periods in the income tax laws. At the same time, the Minister released a discussion paper which examines options to remove unlimited amendment periods in the income tax laws or, alternatively, replace them with more certain arrangements.
The Government is seeking submissions on the proposals and issues set out in the discussion paper. Submissions should be sent by 19 October 2007.
For a copy of the Minister's press release, No 2007/103, 22 August 2007, go here
For a copy of the discussion paper, go here