INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteFor the purpose of ensuring the effective operation of this Part in relation to companies whose accounting periods change, where:
(a) a company that is an early balancing company for the purposes of subsection 221AB(1) adopts a different accounting period, or has an accounting period that commences or ends under section 18A ; or
(b) a company becomes, or ceases to be, an early balancing company for the purposes of that subsection;
the Commissioner may, by notice in writing served on the company, determine that a period specified in the notice shall be treated as a franking year in relation to the company.
The period specified in the notice may:
(a) commence earlier than the date of service of the notice; and
(b) be shorter or longer than a period of 12 months.
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