New Business Tax System (Debt and Equity) Act 2001 (163 of 2001)

Schedule 1   Debt and equity interests

Part 2   Amendment of the Income Tax Assessment Act 1936

Income Tax Assessment Act 1936

111   After section 389

Insert:

389A Other provisions to be disregarded in calculating attributable income

For the purpose of applying this Act in calculating the attributable income of the eligible CFC, the following provisions are to be disregarded:

(a) Division 974 of the Income Tax Assessment Act 1997; and

(b) any provision of this Act to the extent to which the operation of the provision depends on an expression whose meaning is given by Division 974 of the Income Tax Assessment Act 1997.