Assessments

—(1) An assessment of a taxpayer’s liability to pay tax is to be made in the manner prescribed by this Act and the relevant tax legislation (2) An assessment by the Director General may be based upon the information supplied by the taxpayer in a tax return and upon any other relevant information available to the (3) If a taxpayer fails to file a tax return as required, the Director General may make an assessment of the amount of tax payable, based upon best judgement and information reasonably available to the Director General. (4) If the Director General bases an assessment, in whole or in part, on information other than that supplied by a taxpayer in a tax return, the Director General shall provide an indication of the nature of the information on which the assessment is based. (5) If the relevant tax legislation requires the taxpayer to include in a tax return a calculation of the amount of tax payable, the filing of the return shall have the same effect as if the Director General had made an assessment in that amount. (6) Notwithstanding sub-section (5), the Director General may issue a new or revised assessment to a taxpayer who is required by a relevant tax legislation to include in a tax return a calculation of the amount of tax payable.