Income Tax Assessment Act 1936
PART III
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LIABILITY TO TAXATION
Division 10E
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PDFs (pooled development funds)
(a) a company becomes a PDF during a year of income and is still a PDF at the end of the year of income; and
(b) the PDF component for the year of income is a nil amount; and
(c) the year of income is the 1997-98 year of income or a later one. 124ZTA(2) [Alignment of notional year and company's year of income]
Subdivision B
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The taxable income of PDFs
SECTION 124ZTA
TAXABLE INCOME IN FIRST YEAR AS PDF IF PDF COMPONENT IS NIL
124ZTA(1)
[Application from 1997/98 year]
(a) a company becomes a PDF during a year of income and is still a PDF at the end of the year of income; and
(b) the PDF component for the year of income is a nil amount; and
(c) the year of income is the 1997-98 year of income or a later one. 124ZTA(2) [Alignment of notional year and company's year of income]
The company's taxable income of the year of income is the amount that, if the period (the notional year ) beginning at the start of the year of income and ending immediately before the company becomes a PDF were a year of income of the company, would be the company's taxable income of the notional year.
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