Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1936 - SECT 160ZZZP

Dual inclusion income not to be applied more than once

  (1)   For the purposes of paragraphs 160ZZZL(3)(c) and 160ZZZN(1)(c), an amount of income or profits is to be disregarded if:

  (a)   the amount is dual inclusion income; and

  (b)   the amount has been applied by a provision of Division   832 of the Income Tax Assessment Act 1997 .

  (2)   For the purposes of Division   832 of that Act, an amount of dual inclusion income is not available to be applied by a provision of that Division if it has been taken into account under paragraph   160ZZZL(3)(c) or subsection   160ZZZN(2).


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