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INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 220.35

Extended time to make NZ franking choice

             (1)  A company that is an NZ resident may make an NZ franking choice that comes into force at the start of the company's income year including 1 April 2003 by giving notice in the approved form to the Commissioner before the end of the next income year.

             (2)  Subsection (1) has effect despite paragraph 220-40(1)(a) of the Income Tax Assessment Act 1997 .



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