Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 197 - Tainted share capital accounts  

Subdivision 197-C - Consequence of transfer: tainting of share capital account  

SECTION 197-55   Choosing to untaint a tainted share capital account  

197-55(1)    
A company with a *share capital account that is *tainted may make a choice in the *approved form given to the Commissioner to untaint the account.

197-55(2)    
The choice can be made at any time, but cannot be revoked.

Note:

The choice has no effect in relation to a subsequent tainting of the share capital account that occurs after the choice is made.




View surrounding sectionsView surrounding sectionsBack to top


This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.