INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 220 - Imputation for NZ resident companies and related companies  

Subdivision 220-B - NZ company treated as Australian resident for imputation system if company chooses  

SECTION 220-40   When is an NZ franking choice in force?  

220-40(1)  
A company's *NZ franking choice comes into force:


(a) at the start of the company's income year in which the notice was given to the Commissioner; or


(b) at the start of a later income year specified in the notice.

220-40(2)  
The *NZ franking choice continues in force until it is revoked by the company or cancelled by the Commissioner.


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