Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 381

    Where, at the end of a statutory accounting period (in this Division   called the eligible period ) of a company:

  (a)   the company is a CFC; and

  (b)   there are one or more attributable taxpayers in relation to the company;

the attributable income of the company (in this Division   called the eligible CFC ) for the eligible period is calculated separately for each such attributable taxpayer (in this Division   called the eligible taxpayer ) in accordance with this Division.