Tax and Superannuation Laws Amendment (2013 Measures No. 1) Act 2013 (88 of 2013)

Schedule 3   Rural water use

Income Tax Assessment Act 1997

19   Transitional provision - time for making choices

(1) This item applies if, apart from this item, a choice under subsection 59-65(2) of the Income Tax Assessment Act 1997 must be made on or before the day this Schedule commences.

(2) Despite paragraph 59-65(3)(b) of that Act, the choice must be made and given to the Commissioner:

(a) within the 2 year period starting at that commencement; or

(b) within such further time as the Commissioner allows.

Note: The requirements for making the choice must still be satisfied (see subsection 59-65(2) of that Act). This item does not change the income years referred to in that subsection.