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EH 26: Income when refund given on liquidation
or “Refunds during business liquidation count as income”
You could also call this:

“The Commissioner can change tax assessments at any time”

The Commissioner can change an assessment at any time, even if the usual time limit has passed. This change can be made to put into effect what’s written in sections EH 18, EH 21, or EH 22. These sections are part of the same law and have more information about specific situations. This rule helps make sure that the right amount of tax is paid, even if something was missed or wrong in the original assessment.

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Next up: EH 28: Minimum refund

or “Rules for the smallest amount you can get back from your income equalisation account”
Next

Part E Timing and quantifying rules
Income equalisation schemes: Refunds: general provisions

EH 27Amendment of assessment

  1. Despite the time bar, the Commissioner may amend an assessment at any time in order to give effect to section EH 18 or EH 21 or EH 22.

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