INCOME TAX ASSESSMENT ACT 1936 - SECT 124ZT SME assessable income
INCOME TAX ASSESSMENT ACT 1936 - SECT 124ZT
SME assessable income(1) A company's SME assessable income of a year of income is the sum of:
(a) so much of the company's non - CGT assessable income of the year of income as was derived:
(i) from, or from the disposal of, an SME investment of the company; and
(ii) at a time when the company was a PDF; and
(b) any assessable income allocated to the company's SME assessable income under section 124ZZB.
Note: Section 124ZZB deals with capital gains etc.
When assessable income derived
(2) For the purposes of paragraph (1)(a), if an amount is
derived by a company during, but not at a particular time during, a
year of income, the amount is taken to have been derived by the company on the
last day of the year of income.