INCOME TAX ASSESSMENT ACT 1936 - SECT 382 Attributable income is taxable income calculated on certain assumptions
INCOME TAX ASSESSMENT ACT 1936 - SECT 382
Attributable income is taxable income calculated on certain assumptions(1) The attributable income is the amount that would be the eligible CFC's taxable income for the eligible period if certain assumptions were made.
(2) For the purposes of describing those assumptions, amounts of
assessable income, allowable deductions and exempt income that are to be taken
into account in calculating the taxable income are referred to respectively as
notional assessable income, notional allowable deductions and notional
exempt income.