s 842-230
In forcePre‑2012 IMR deduction
Chapter 4International aspects of income tax
Part 4-5General
Division 842Exempt Australian source income and gains of foreign residents
Subdivision 842-IInvestment manager regime
842-230 Pre‑2012 IMR deduction
(1)
The pre‑2012 IMR deduction of an IMR foreign fund for an income year is the amount of the fund’s deductions for the income year to the extent to which they:
(a)
are attributable to gaining the fund’s pre‑2012 IMR income; and
(b)
relate to the 2011‑12 income year, or an earlier income year.
(2)
Disregard the following provisions for the purposes of determining the pre‑2012 IMR deduction of the fund:
(a)
subsection 842‑210(3) (which is about certain amounts of an IMR foreign fund being disregarded);
(b)
paragraph 842‑240(1)(b) (which is about pre‑2012 non‑IMR net income);
(c)
paragraph 842‑245(a) (which is about pre‑2012 non‑IMR partnership net income).
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