Tax Laws Amendment (2004 Measures No. 6) Act 2005 (23 of 2005)

Schedule 2   Copyright collecting societies

Income Tax (Transitional Provisions) Act 1997

12   Section 405-1 (link note)

Repeal the link note, substitute:

Division 410 - Copyright collecting societies

Table of sections

410-1 Application of section 51-43 of the Income Tax Assessment Act 1997

410-1 Application of section 51-43 of the Income Tax Assessment Act 1997

(1) A copyright collecting society to which section 51-43 of the Income Tax Assessment Act 1997 applies, may elect that, from 1 July 2004, the section apply to all copyright income, and non-copyright income, collected or derived by the society on or after 1 July 2004.

(2) A society makes a valid election if:

(a) the election is in writing; and

(b) the election is given to the Commissioner within 28 days after the day on which this section commences.