Income Tax Assessment Act 1936
PART X
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ATTRIBUTION OF INCOME IN RESPECT OF CONTROLLED FOREIGN COMPANIES
Where, at the end of a statutory accounting period (in this Division called the eligible period ) of a company:
(a) the company is a CFC; and
(b) there are one or more attributable taxpayers in relation to the company;
Division 7
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Calculation of attributable income of CFC
Subdivision A
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Basic principles
SECTION 381
381
SEPARATE ATTRIBUTABLE INCOME FOR EACH ATTRIBUTABLE TAXPAYER
Where, at the end of a statutory accounting period (in this Division called the eligible period ) of a company:
(a) the company is a CFC; and
(b) there are one or more attributable taxpayers in relation to the company;
the attributable income of the company (in this Division called the eligible CFC ) for the eligible period is calculated separately for each such attributable taxpayer (in this Division called the eligible taxpayer ) in accordance with this Division.
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