Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 220.40

When is an NZ franking choice in force?

             (1)  A company's * NZ franking choice comes into force:

                     (a)  at the start of the company's income year in which the notice was given to the Commissioner; or

                     (b)  at the start of a later income year specified in the notice.

             (2)  The * NZ franking choice continues in force until it is revoked by the company or cancelled by the Commissioner.



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