Income Tax Assessment Act 1936
PART X
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ATTRIBUTION OF INCOME IN RESPECT OF CONTROLLED FOREIGN COMPANIES
The amount of any (sometimes-exempt income) loss of the eligible CFC for the eligible period is a notional allowable deduction for the period from the notional assessable income of the eligible CFC.
Division 7
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Calculation of attributable income of CFC
Subdivision D
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Modifications relating to losses
SECTION 429
429
NOTIONAL ALLOWABLE DEDUCTION FOR (SOMETIMES-EXEMPT INCOME) LOSS
The amount of any (sometimes-exempt income) loss of the eligible CFC for the eligible period is a notional allowable deduction for the period from the notional assessable income of the eligible CFC.
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