Taxation (International Investment and Remedial Matters) Act 2012

33 Default calculation method
  • (1) Section EX 48(2) is replaced by the following:

    Default choice
    • (2) The person is treated as having chosen to use, for the period,—

      • (a) the fair dividend rate method if it is practical to use it; and

      • (b) the cost method if it is not practical to use the fair dividend rate method.

    (2) In section EX 48, in the list of defined terms, accounting profits method, comparative value method, and deemed rate of return method are omitted.

    (3) Subsection (1) applies for income years beginning on or after 1 July 2011.