Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 820.58

  (1)   Subsection   (2) applies if:

  (a)   an entity has not made a choice under subsection   820 - 46(3) or (4) in relation to an income year; and

  (b)   the entity makes a choice under subsection   820 - 46(3) or (4) in relation to a subsequent income year.

  (2)   Despite section   820 - 57, for the purpose of applying section   820 - 56 in respect of that subsequent income year and later income years, treat the entity as having a * FRT disallowed amount of zero for every income year before that subsequent income year.