INCOME TAX ASSESSMENT ACT 1997 - SECT 960.570 Meaning of global financial statements

INCOME TAX ASSESSMENT ACT 1997 - SECT 960.570

    Global financial statements for an entity for a period (the relevant period ) are the financial statements that:

  (a)   have been prepared and audited in relation to that entity, or that entity and other entities, in accordance with:

  (i)   * accounting principles and * auditing principles; or

  (ii)   if such principles do not apply--commercially accepted principles, relating to accounting and auditing, that ensure the statements give a true and fair view of the financial position and performance of that entity (or that entity and the other entities on a consolidated basis); and

  (b)   are for the most recent period ending:

  (i)   no later than the end of the relevant period; and

  (ii)   no earlier than 12 months before the start of the relevant period.