Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 197.55

Choosing to untaint a tainted share capital account

  (1)   A company with a * share capital account that is * tainted may make a choice in the * approved form given to the Commissioner to untaint the account.

  (2)   The choice can be made at any time, but cannot be revoked.

Note:   The choice has no effect in relation to a subsequent tainting of the share capital account that occurs after the choice is made.


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