Section 2 - General modifications to the law



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This section explains a number of general modifications to the taxation law which apply when working out the attributable income of a CFC. There are also modifications to:

  • the treatment of gains and losses made by a CFC on the disposal of a capital asset
  • the treatment of losses incurred by a CFC, including the quarantining of deductions
  • the treatment of amounts derived through a partnership.

These modifications are dealt with in section 3, section 4 and section 5 of part 3.

Last modified: 05 Dec 2006QC 17522