Section OB 82 — Income Tax Act 2007: When and how co-operative company makes election

OB 82 When and how co-operative company makes election One a year (1) A co-operative company may make an election under section OB 78 , OB 79 , or OB 81 in relation to a distribution for— (a) only 1 cash distribution during the income year: (b) only 1 notional distribution during the income year. Timing (2) A co-operative company may make an election referred to in subsection (1)— (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 (3) A co-operative company must notify the Commissioner of an election referred to in subsection (1)(a) no later than the time allowed for the company 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 , co-operative company , income year , notify , return of income , tax year , Compare: 2004 No 35 s ME 35