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.