ato logo
Search Suggestion:

Part 4 - What records of elections must you keep?

Last updated 4 December 2006

If you have been required to do any of the following, 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 the Tax Office when working out your attributable income.

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.

Note that the CFC may make an election to vary its statutory accounting period from the standard period ending 30 June.