Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1936 - SECT 410

General modifications--CGT

                   For the purposes of applying this Act in calculating the attributable income of the eligible CFC, Parts 3-1 and 3-3 of the Income Tax Assessment Act 1997 apply as if these provisions were disregarded:

                     (a)  section 116-85 (about section 47A of this Act applying to a rolled-over asset);

                     (b)  section 116- 95 (about a company changing residence from an unlisted country);

                     (c)  section 118-12 (about assets used to produce exempt income etc.);

                     (d)  section 855- 45 (about an individual or company becoming an Australian resident);

                     (e)  section 855-55 (about a CFC becoming an Australian resident);

                      (f)  Subdivision 170-B (about transfer of net capital losses within company groups).



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