Taxation Laws Amendment Act (No. 5) 2003 (142 of 2003)

Schedule 8   Tax losses

Income Tax Assessment Act 1997

17A   Subsection 707-310(3) (table item 6, paragraph (c) of column 2)

Repeal the paragraph, substitute:

(c) any *net assessable film income;

reduced by the amount (the transferee's grossed-up franking offset amount ) worked out in accordance with paragraph (3A)(c)