Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the purposes of this Division, the ordinary income of a company or trust is to be worked out as if:
(a) exempt lump sums were not excluded from the definition of ordinary income in subsection 8(1); and
(b) each reference in section 8 to a person included a reference to a company or trust; and
(c) the following provisions had not been enacted:
(i) subsection 8(7A);
(ii) subsection 8(8);
(iii) subsection 8(11);
(2) Paragraphs (1)(a) and (c) have effect subject to paragraph 1207Y(1)(d).
(3) A reference in this Division to the ordinary income of a
company or trust is a reference to the company's or trust's gross
ordinary income from all sources calculated without any reduction, other than
a reduction under section 1208A or 1208B.