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 C - Modifications relating to Australian capital gains tax  

SECTION 408   408   CERTAIN CAPITAL GAINS AND LOSSES DISREGARDED  

If a CFC makes a capital gain or capital loss from a CGT event that is not disregarded under Subdivision 855-A of the Income Tax Assessment Act 1997 , or would have made a capital gain from the event apart from indexation, disregard the CGT event in calculating the attributable income of the eligible CFC.