Income Tax Assessment Act 1997
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Hide history noteSECTION 960-65 960-65 Backdated startup choice
The table has effect:
| Backdated startup choice | ||
| Item | In this case: | the choice is a backdated startup choice if... |
| 1 | you make a choice under item 1 of the table in subsection 960-60(1) | (a) both:
(i) you were in existence at the start of the income year in which you made the choice; and |
| (ii) you make the choice within 90 days after the beginning of that income year or within 30 days after the commencement of this section; or | ||
| (b) both: | ||
| (i) you came into existence during the income year in which you made the choice; and | ||
| (ii) you make the choice within 90 days after you came into existence or within 30 days after the commencement of this section. | ||
| 2 | you make a choice under item 2 of the table in subsection 960-60(1) | (a) both:
(i) the permanent establishment was in existence at the start of the income year in which you made the choice; and |
| (ii) you make the choice within 90 days after the beginning of that income year or within 30 days after the commencement of this section; or | ||
| (b) both: | ||
| (i) the permanent establishment came into existence during the income year in which you made the choice; and | ||
| (ii) you make the choice within 90 days after the permanent establishment came into existence or within 30 days after the commencement of this section. | ||
| 3 | you make a choice under item 3 of the table in subsection 960-60(1) | (a) both:
(i) the *offshore banking unit was in existence at the start of the income year in which you made the choice; and |
| (ii) you make the choice within 90 days after the beginning of that income year or within 30 days after the commencement of this section; or | ||
| (b) both: | ||
| (i) the offshore banking unit came into existence during the income year in which you made the choice; and | ||
| (ii) you make the choice within 90 days after the offshore banking unit came into existence or within 30 days after the commencement of this section. | ||
| 4 | you make a choice under item 4 of the table in subsection 960-60(1) | (a) both:
(i) you are an attributable taxpayer of the CFC at the beginning of the CFC's *statutory accounting period in which you made the choice; and |
| (ii) you make the choice within 90 days after the beginning of the CFC's statutory accounting period or within 30 days after the commencement of this section; or | ||
| (b) both: | ||
| (i) you became an attributable taxpayer in relation to the CFC during the CFC's statutory accounting period during which you made the choice; and | ||
| (ii) you make the choice within 90 days after the beginning of the CFC's statutory accounting period or within 30 days after the commencement of this section. | ||
| 5 | you make a choice under item 5 of the table in subsection 960-60(1) | you make the choice within 90 days after the beginning of an income year or within 30 days after the commencement of this section. |
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