Taxation Laws Amendment Act (No. 2) 1993 (18 of 1993)

PART 3   AMENDMENT OF THE INCOME TAX ASSESSMENT ACT 1936

Division 7   Amendments relating to foreign investment

Subdivision C   FIF attribution account payments and CFCs

34  

After section 607 of the Principal Act the following section is inserted in Division 19 of Part XI:

Grossed-up amount of a FIF attribution debit

"607A. The grossed-up amount in relation to a FIF attribution debit is:

(a) where subparagraph 606 (2) (b) (i) applied in relation to the debit-the amount of the debit; or

(b) where subparagraph 606 (2) (b) (ii) applied in relation to the debit-the amount of the debit, divided by the FIF attribution account percentage referred to in that subparagraph.".