Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 195.75

Determinations to take account of income years of less than 12 months

             (1)  The Commissioner may, by legislative instrument, make a determination modifying the operation of one or more provisions of this Act in relation to limited partnerships whose accounting periods commence or end under section 18A of the Income Tax Assessment Act 1936 .

             (2)  A determination can only be made in order to take account of the fact that such accounting periods are of less than 12 months' duration.

Table of Subdivisions

             Guide to Division 197

197-A   What transfers into a company's share capital account does this Division apply to?

197-B    Consequence of transfer: franking debit arises

197-C    Consequence of transfer: tainting of share capital account

Guide to Division 197



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