Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-45 - RULES FOR PARTICULAR INDUSTRIES AND OCCUPATIONS  

Division 417 - Timor Sea petroleum  

Subdivision 417-D - Transferring or applying tax losses  

SECTION 417-95   How choices are made  

417-95(1)    
A choice under section 417-90 :

(a) must be in the *approved form; and

(b) must be made no later than:

(i) the day you lodge your *income tax return for the income year for which the choice is made; or

(ii) a later time allowed by the Commissioner; and

(c) must be given to the Commissioner within 30 days after you make the choice.

417-95(2)    
The choice cannot be revoked.

417-95(3)    
Only one choice can be made under this Subdivision in relation to the same part of a *tax loss.