Income Tax Assessment Act 1997
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In the case of a foreign hybrid company, references in this Subdivision that relate to partnerships are to be read subject to Subdivision 830-B . For example, a reference to a partner will be a reference to a shareholder in the company who is treated by Subdivision 830-B as a partner.
If:
(a) a taxpayer is a partner in an entity that becomes a *foreign hybrid in relation to an income year; and
(b) the entity was a *CFC at the end of the taxpayer's preceding income year; and
(c) the last *statutory accounting period of the CFC did not end at the end of the taxpayer's preceding income year; and
(d) if it had so ended, the taxpayer would have been an *attributable taxpayer in relation to the CFC;
for the purposes of working out the *attributable income of the CFC for the taxpayer in respect of the last statutory accounting period of the CFC, that statutory accounting period ends at the end of the taxpayer's preceding income year.
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