INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
View history note
Hide history noteThe Commissioner may give the company a notice in accordance with section 50HC if the requirements of subsections (2) to (5) of this section are met.
50HB(2) First requirement.In its return of income for the year of income, the company must not have calculated its taxable income and loss for the year of income under section 50C where it would be required to calculate its taxable income and loss under that section unless it met the conditions in section 50HA .
50HB(3) Second requirement.In order to determine whether it meets the conditions in that section, the Commissioner must need information about a non-fixed trust mentioned in subsection 50HA(5) .
50HB(4) Third requirement.When the Commissioner gives the notice:
(a) a trustee of the non-fixed trust must be a non-resident; or
(b) the central management and control of the non-fixed trust must be outside Australia. 50HB(5) Fourth requirement.
The Commissioner must give the notice before the later of:
(a) 5 years after the year of income; and
(b) the end of the period during which the company is required by section 262A to retain records in relation to that year of income.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
