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Part 4 What records of elections must you keep?

Last updated 25 May 2016

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.