Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1997 - SECT 830.120

    If:

  (a)   a taxpayer is a partner in an entity that becomes a * foreign hybrid in relation to an income year; and

  (b)   the entity was a * CFC at the end of the taxpayer's preceding income year; and

  (c)   the last * statutory accounting period of the CFC did not end at the end of the taxpayer's preceding income year; and

  (d)   if it had so ended, the taxpayer would have been an * attributable taxpayer in relation to the CFC;

for the purposes of working out the * attributable income of the CFC for the taxpayer in respect of the last statutory accounting period of the CFC, that statutory accounting period ends at the end of the taxpayer's preceding income year.