Commonwealth Consolidated Acts

INCOME TAX (TRANSITIONAL PROVISIONS) ACT 1997 - SECT 410.1

             (1)  A copyright collecting society to which section 51-43 of the Income Tax Assessment Act 1997 applies, may elect that, from 1 July 2004, the section apply to all ordinary income, and statutory income, collected or derived by the society on or after 1 July 2004.

             (2)  A society makes a valid election if:

                     (a)  the election is in writing; and

                     (b)  the election is given to the Commissioner within 28 days after the day on which this section commences.

Table of Subdivisions

420-B    Units held before the commencement of Division 420 of the Income Tax Assessment Act 1997

Table of sections

420-1        Application of Division 420 of the Income Tax Assessment Act 1997