Income Tax Assessment Act 1936

PART X - ATTRIBUTION OF INCOME IN RESPECT OF CONTROLLED FOREIGN COMPANIES  

Division 7 - Calculation of attributable income of CFC  

Subdivision B - General modifications of Australian tax law  

SECTION 395  

395   EXPENDITURE INCURRED TO PRODUCE INCOME OR PROFITS IN LATER STATUTORY ACCOUNTING PERIODS  

In determining whether expenditure incurred by the eligible CFC during the eligible period for the purpose of gaining or producing income or profits in a later statutory accounting period is a notional allowable deduction under a particular provision, it is to be assumed that:

(a) there will be a requirement under this Division to calculate the attributable income of the eligible CFC for that later statutory accounting period; and

(b) for that purpose, the eligible CFC will always be a resident of the listed country or unlisted country, as the case may be.