Document ID: chunk:federal_register_of_legislation:C2020C00244:clause:1_12
Version: federal_register_of_legislation:C2020C00244
Segment Type: clause
Provision Reference: sch 1 cl 12
Character Range: 29608–30185

12  Transitional: time for making mirror choices
(1) Subsection 126‑235(3) of the Income Tax Assessment Act 1997 does not apply if the other trust makes a mirror choice under a provision of a taxation law by:
 (a) 6 months after the day this Act receives the Royal Assent; or
 (b) a later day allowed by the Commissioner of Taxation.
Note: For this item to have effect, the other trust must still be able, under that provision of the taxation law, to make the mirror choice.
(2) This item has effect in addition to subsection 126‑235(4) of the Income Tax Assessment Act 1997.