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.