TAXATION ADMINISTRATION ACT 2001 - SECT 14A 14A Making self assessment by lodging transaction statement

Queensland Consolidated Acts

14A Making self assessment by lodging transaction statement

The following provisions apply if, under a revenue law, a self assessor lodges a transaction statement—

(a) an assessment (a standard self assessment) is taken to have been made for the amount of a taxpayer's liability for tax stated in the statement;

(b) the assessment under paragraph (a) is taken to have been made by the commissioner;

(c) the liability for tax for the assessment is the amount stated in the statement for the liability;

(d) despite section 26(2), the statement is taken to be an assessment notice for the assessment;

(e) the assessment notice is taken to have been given under section 26 to the taxpayer for whom the assessment is made.