Section 670 — Income Tax Act 2007: Withdrawal of relief

Withdrawal of relief 670 1 This section applies if—

a a claim under section 668(2) or 669(2) has been made in relation to profits, and b the proceeds of the transfers cease to be unremittable.

2 The claimant is treated as making accrued income profits of an amount equal to the reduction under that section.

3 If the claimant has died, the claimant's personal representatives are so treated.