Taxation Laws Amendment (Foreign Income Measures) Act 1997 (155 of 1997)

Schedule 1   Foreign source income

Part 1   General amendments

Income Tax Assessment Act 1936

16   Section 160AFCA

Omit all the words after "equal to the attribution percentage", substitute:

of the sum of:

(c) the total amount of the notional allowable deductions under section 393 in relation to the attributable income of the CFC for the statutory accounting period; and

(d) the total of amounts of foreign tax not actually paid, but deemed to have been paid, by the CFC for the statutory accounting period, in relation to a law of a listed country, as mentioned in sub-subparagraph 324(1)(b)(i)(A) or (B).