Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) While an * annual tax period election that you have made has effect, each * financial year is a tax period that applies to you.
(2) However, if your * annual tax period election takes effect on a day that is not the start of a * financial year, the period from when your annual tax period election takes effect until the end of the financial year in which it takes effect is a tax period that applies to you.
(3) A tax period under this section is an annual tax period .
(4) This section has effect despite sections 27 - 5, 27 - 10 and 27 - 30 (which are about tax periods).