Taxation Laws Amendment Act (No. 4) 1994 (181 of 1994)

Schedule 2   AMENDMENTS RELATING TO POOLED DEVELOPMENT FUNDS

Part 2   INCOME TAX ASSESSMENT ACT 1936

10   After subsection 46(7)

Insert:

"(7AA) For the purposes of subsection (2A), the part of any PDF dividends that is included in the taxable income of a shareholder of the year of income is:

(a) if the SME income component of the taxable income is equal to or less than the amount of the PDF dividends included in the shareholder's assessable income of the year of income - the whole of the SME income component of the taxable income; or

(b) in any other case - so much of the SME income component of the taxable income as equals the amount (if any) of the PDF dividends included in the shareholder's assessable income of the year of income.".