Income Tax Assessment Act 1936
View history note
Hide history noteA company's SME assessable income of a year of income is the sum of:
(a) so much of the company's non-CGT assessable income of the year of income as was derived:
(i) from, or from the disposal of, an SME investment of the company; and
(ii) at a time when the company was a PDF; and
(b) any assessable income allocated to the company's SME assessable income under section 124ZZB .
Note:
Section 124ZZB deals with capital gains etc.
124ZT(2) When assessable income derived.For the purposes of paragraph (1)(a), if an amount is derived by a company during, but not at a particular time during, a year of income, the amount is taken to have been derived by the company on the last day of the year of income.
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