Commentary on Sections Overview Overview Section 224: Effect of adjustment
916.This section explains the effect of adjusting profits after a claim is made. It is based on section 96 of and Schedule 4A to ICTA.
917.Subsection (4) deals with the relationship between an averaging claim and claims for relief under any other provision of the Income Tax Acts.
918.Section 96(9)(a) of ICTA provides that the time limit for the making of these other claims is the last day of the period during which the averaging claim is capable of being revoked. This section describes the time limit as being the last date on which the averaging claim could have been made. The actual time limit remains unchanged.