Income Tax Assessment Act 1997

CHAPTER 6 - THE DICTIONARY  

PART 6-1 - CONCEPTS AND TOPICS  

Division 960 - General  

Subdivision 960-U - Significant global entities  

Operative provisions

SECTION 960-565   960-565   Meaning of annual global income  


The annual global income of a *global parent entity for a period is:


(a) if the entity is a member of a group of entities that are consolidated for accounting purposes as a single group - the total annual income of all the members of the group; or


(b) otherwise - the total annual income of the entity;

as shown in the latest *global financial statements for the entity for the period.


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