Income Tax Assessment Act 1997
View history note
Hide history noteYou can only make an election under Subdivision 385-E , 385-F or 385-G before you lodge your * income tax return for the last income year for which your assessable income would (apart from the election) include any of:
(a) the * proceeds of the disposal or death of * live stock; or
(b) the insurance recovery for the loss of * live stock or trees; or
(c) the * proceeds of the sale of the 2 wool clips.
The Commissioner may allow you further time to make the election.
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