Document ID: chunk:federal_register_of_legislation:C2013C00581:clause:2_48
Version: federal_register_of_legislation:C2013C00581
Segment Type: clause
Provision Reference: sch 2 cl 48
Character Range: 66430–67141

48  Transitional: choice
(1) Subitem (2) applies in relation to:
 (a) a CGT event that happened before the day on which this Act receives the Royal Assent; and
 (b) an entity who becomes eligible to make a choice under Division 152 of the Income Tax Assessment Act 1997 in relation to that event because of this Schedule.
(2) Despite subsection 103‑25(1) of the Income Tax Assessment Act 1997, any such choice must be made by the entity by the latest of:
 (a) the day the entity lodges its income tax return for the income year in which the relevant CGT event happened; and
 (b) 12 months after the day on which this Act receives the Royal Assent; and
 (c) a later day allowed by the Commissioner of Taxation.