Document ID: chunk:federal_register_of_legislation:C2010C00602:clause:8_4
Version: federal_register_of_legislation:C2010C00602
Segment Type: clause
Provision Reference: sch 8 cl 4
Character Range: 28277–28991

4  Subsections 707‑325(5) and (6)
Repeal the subsections, substitute:

Choice to work out available fraction using this section

 (5) The transferee may choose to use a fixed percentage (greater than 0% and not more than 100%) of the value donor's modified market value to work out the available fraction for the bundle. The transferee may do so only by the later of:
 (a) the day on which it lodges its income tax return for the first income year for which it utilises (except in accordance with section 707‑350) losses transferred to it under Subdivision 707‑A of the Income Tax Assessment Act 1997; and
 (b) the end of 31 December 2004.

 (6) The choice cannot be amended, or revoked, after 31 December 2004.