Income Tax Assessment Act 1997

CHAPTER 6 - THE DICTIONARY  

PART 6-1 - CONCEPTS AND TOPICS  

Division 960 - General  

Subdivision 960-U - Significant global entities  

Operative provisions

SECTION 960-570  

960-570   Meaning of global financial statements  


Global financial statements for an entity for a period (the relevant period ) are the financial statements that:


(a) have been prepared and audited in relation to that entity, or that entity and other entities, in accordance with:


(i) *accounting principles and *auditing principles; or

(ii) if such principles do not apply - commercially accepted principles, relating to accounting and auditing, that ensure the statements give a true and fair view of the financial position and performance of that entity (or that entity and the other entities on a consolidated basis); and


(b) are for the most recent period ending:


(i) no later than the end of the relevant period; and

(ii) no earlier than 12 months before the start of the relevant period.

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.