Part 4 What records of elections must you keep?
This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.
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If you have been required to do any of the following when working out your attributable income, you are required to keep a record of having done so:
- make an election
- make a declaration
- make a selection, or
- give certain notices to us.
You are also required to keep a record of a CFC’s election if you are claiming the benefit made either:
- under capital gains tax rollover provisions, or
- due to a change in its statutory accounting period.
The CFC may make an election to vary its statutory accounting period from the standard period ending 30 June.