Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-5 - CORPORATE TAXPAYERS AND CORPORATE DISTRIBUTIONS  

Division 166 - Income tax consequences of changing ownership or control of a widely held or eligible Division 166 company  

Subdivision 166-B - Working out the taxable income, tax loss, net capital gain and net capital loss for the income year of the change  

SECTION 166-35   Companies can choose that this Subdivision is not to apply to them  

166-35(1)    
The company can choose that Subdivisions 165-B and 165-CB are to apply to it for the income year without the modifications made by this Subdivision.

166-35(2)    
The company must choose on or before the day it lodges its *income tax return for the income year, or before a later day if the Commissioner allows.


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