Section 100 - Insertion of new section 10A

Time limits for tax assessments: ordinary assessments and reassessments subject to two-year limitation with defined exceptions.

Establishes a time limit for completion of assessments and reassessments: ordinary assessments under section 8 and assessments/reassessments under section 10 are barred after two years from the relevant year-end trigger. Exceptions allow fresh assessments arising from orders under sections 15, 16, 19 or 20 within two years from the end of the financial year in which the order is received or passed; assessments to give effect to specified Commissioner or court orders are not subject to the two-year bar. Periods for reopening proceedings and periods of judicial stay are excluded in computing limitation, and interest excluded by such orders is treated as consequential assessment for other years.