S 430 repealed by
No 143 of 2007
, s 3 and Sch 1 item 116, applicable in relation to income years, statutory accounting periods and notional accounting periods starting on or after the first 1 July that occurs after 24 September 2007. For savings provisions, see note under s
559A
. S 430 formerly read:
SECTION 430 LIMITATION ON DEDUCTIONS FOR CLASSES OF NOTIONAL ASSESSABLE INCOME
430
Where:
(a)
apart from this section, there are one or more notional allowable deductions (other than under section
431
) of the eligible CFC for the eligible period in relation to notional assessable income of a particular class; and
(b)
either:
(i)
the eligible CFC did not derive any notional assessable income of that class in the eligible period; or
(ii)
the eligible CFC derived notional assessable income of that class in the eligible period and its amount is exceeded by the sum of the deductions;
then, for the purposes of this Division, those deductions are to be reduced respectively:
(c)
where subparagraph (b)(i) applies
-
to nil; or
(d)
where subparagraph (b)(ii) applies
-
by amounts proportionate to those deductions and equal in total to the amount of the excess referred to in that subparagraph.
S 430 inserted by No 5 of 1991.
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