INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART XI - FOREIGN INVESTMENT FUNDS AND FOREIGN LIFE ASSURANCE POLICIES  

Division 18 - How to determine whether Foreign Investment Fund income accrued to a taxpayer from a FIF or a FLP  

Subdivision C - Deemed rate of return method for FIFs  

SECTION 548   VALUE OF INTERESTS AT START OF RELEVANT PERIOD (BEING 1 JANUARY 1993) - FAIR MARKET VALUE  

548(1)   [Application]  

This section applies in relation to interests in the group if it is impracticable to value the interests in accordance with section 547 .

548(2)   [Certification by independent valuer]  

The value of the interests in the group on the relevant day is the amount certified in writing by an independent valuer to have been the fair market value of the interests on a day named in the certificate, being any day within the period of 3 months ending on the relevant day or the period of 3 months starting on the relevant day.