Income Tax Assessment Act 1936

PART X - ATTRIBUTION OF INCOME IN RESPECT OF CONTROLLED FOREIGN COMPANIES  

Division 7 - Calculation of attributable income of CFC  

Subdivision C - Modifications relating to Australian capital gains tax  

SECTION 418   OPTIONS  

418(1)   [Operation of section]  

For the purposes of applying this Act in calculating the attributable income of the eligible CFC, the following provisions have effect.

418(2)   [Application to options]  

Subsection 104-30(5) of the Income Tax Assessment Act 1997 applies to an option granted by the eligible CFC as if the reference in that subsection to 20 September 1985 were a reference to the day after the eligible CFC's commencing day.

418(3)   [Option granted to eligible CFC]  

Section 134-1 of the Income Tax (Transitional Provisions) Act 1997 does not apply to an option granted to the eligible CFC.