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.