Section OB 77 — Income Tax Act 2007: When and how statutory producer board makes election

OB 77 When and how statutory producer board makes election Timing of election (1) A statutory producer board may make an election under section OB 73 , OB 74 , or OB 76 in relation to a distribution either— (a) after the income year in relation to which the distribution is made; but (b) no later than 6 months after the end of the income year in relation to which the distribution is made. Notice (2) A producer board must notify the Commissioner of an election referred to in subsection (1) no later than the time allowed for the statutory producer board to file a return of income for the tax year corresponding to the income year in relation to which the distribution is made. Defined in this Act: Commissioner , dividend , income year , return of income , statutory producer board , tax year , Compare: 2004 No 35 s ME 30(3), (4)