Taxation Laws Amendment (Venture Capital) Act 2002 (136 of 2002)
Schedule 2 Flow-through treatment, and related matters
Income Tax Assessment Act 1997
24 Subsection 995-1(1) (definition of income year )
Omit includes that accounting period, substitute:
includes:
(a) the adopted accounting period; or
(b) if the adopted accounting period ends under section 18A of the Income Tax Assessment Act 1936:
(i) in relation to the commencing of the income year - the adopted accounting period (as ending under that section); or
(ii) in relation to the ending of the income year - the accounting period ending under that section on the day on which the adopted accounting period would (but for that section) have ended.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).