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Part 3 - Working out attributable income and the amount to include in your assessable income

Last updated 4 December 2006

This part explains how to work out the attributable income of a CFC. Your share of the attributable income is included in your assessable income.

Even if the CFC passes the active income test, you will still need to read on. Passing the test will eliminate many, but not all, types of attributed income and gains.

Summary of part 3

Section 1

General assumptions for working out the attributable income of a CFC

  • modifications for non-broad-exemption listed company
  • modifications for broad-exemption listed company
 

Section 2

General modifications
Other modifications

Section 3

Capital gains

Section 4

Deductions and losses

Section 5

Partnerships

Section 6

Trusts

Section 7

Interim dividends

Section 8

Relief from double accruals taxation

Section 9

How much is included in assessable income?

Section 1 - General assumptions for working out the attributable income of a CFC

Section 2 - General modifications to the law

Section 3 - Modifications to the treatment of capital gains and losses

Section 4 - Quarantining of losses

Section 5 - Working out the net income of a partnership

Section 6 - Trust amounts

Section 7 - Reduction of attributable income because of interim dividends

Section 8 - Relief from double accruals taxation

Section 9 - How much is included in assessable income?

QC17522