Income Tax (Transitional Provisions) Act 1997
View history note
Hide history noteA choice under section 165-115E of the Income Tax Assessment Act 1997 to use the global method of working out whether a company has an unrealised net loss at a particular time must be made within 6 months after the day on which the New Business Tax System (Consolidation, Value Shifting, Demergers and Other Measures) Act 2002 received the Royal Assent if:
(a) that time is before that day; and
(b) subsection 165-115E(4) of that Act would otherwise require the choice to be made before the end of those 6 months.
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