Assessment time limits for fringe benefits create two-year and one-year limitation periods for specified assessment provisions. The statute inserts two limitation subsections: one barring assessment of fringe benefits under the fringe benefit valuation provisions if made after two years from the end of the assessment year when those benefits first became assessable, and another barring assessment or reassessment under the notice-triggered provision if made after one year from the end of the financial year in which the notice was served; cross-references in related subsections and an explanatory proviso are amended to include these new limitation provisions.