S 609 repealed by
No 143 of 2007
, s 3 and Sch 1 item 126, applicable in relation to income years, statutory accounting periods and notional accounting periods starting on or after the first 1 July that occurs after 24 September 2007. For savings provisions, see note under s
. S 609 formerly read:
SECTION 609 FIF ATTRIBUTED TAX ACCOUNT CREDIT
A FIF attributed tax account credit arises for a FIF in relation to a taxpayer if, on the assumption that the references in sections
to a notional deduction under Subdivision D of Division
did not include a reference to a deduction in respect of Australian tax, the taxpayer would be taken by those sections to have paid, and to have been personally liable for, an amount of foreign tax in respect of an amount included in the taxpayer
s assessable income under section
in respect of a notional accounting period of the FIF.
The amount of the credit is equal to the amount of the foreign tax.
The FIF attributed tax account credit arises at the end of the notional accounting period referred to in subsection (1).
S 609 inserted by No 190 of 1992.