Commonwealth Consolidated Acts

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INCOME TAX ASSESSMENT ACT 1997 - SECT 802.40

Effect of foreign income tax offset on conduit foreign income

    The entity's conduit foreign income includes an amount if a tax offset arose for the entity under Division   770 for the income year immediately before the one in which the relevant time occurs. The amount is worked out using the formula:

Start formula Offset times start fraction open bracket 1 minus *Corporate tax rate close bracket over *Corporate tax rate end fraction end formula


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