428
CurrentSubdivision to apply as if there were always a requirement to calculate attributable income
Volume 4Part VIIB to Part X, Division 11 (sections 251R to 468)
Part XAttribution of income in respect of controlled foreign companies
Division 7Calculation of attributable income of CFC
Subdivision DModifications relating to losses
428 Subdivision to apply as if there were always a requirement to calculate attributable income
For the purposes of applying this Subdivision in calculating the attributable income of the eligible CFC for the eligible period, it is to be assumed that, for any earlier statutory accounting period (when the eligible CFC existed) for which there was no requirement to calculate its attributable income in relation to the eligible taxpayer, there were such a requirement (except for the purpose of applying section 398).
This Act’s bill:Second reading speech
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.