Tax Laws Amendment (2008 Measures No. 4) Act 2008 (97 of 2008)
Schedule 3 Minor amendments
Part 1 General amendments
Income Tax Assessment Act 1997
146 Subsection 707-310(3) (at the end of the table)
Add:
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6 Assessable income that is not attributable to *capital gains and is not *assessable film income |
The amount (if any) that would have been the transferee's taxable income (if any) for the income year if the transferee had not had for the income year: (a) any *net capital gain; or (b) any *net assessable film income; reduced by the amount (the transferee's grossed-up franking offset amount ) worked out in accordance with paragraph (3A)(c) |
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