INCOME TAX ASSESSMENT ACT 1936 - SECT 433 Tainted income ratio
INCOME TAX ASSESSMENT ACT 1936 - SECT 433
Tainted income ratio(1) For the purposes of this Part, if a company is a resident of a particular listed country or a particular unlisted country at the end of a statutory accounting period, the tainted income ratio of the company for the statutory accounting period is calculated using the formula:
where:
"Gross tainted turnover" means the gross tainted turnover of the company of the statutory accounting period.
"Gross turnover" means the gross turnover of the company of the statutory accounting period.
(3) For the purposes of this Part, the tainted income ratio of a company for a statutory accounting period is taken to be less than 0.05 if both the numerator and the denominator in the applicable fraction are 0.
(4) For the purposes of this Part, the tainted income ratio of a
company for a statutory accounting period is to be calculated in the currency
in which the profit and loss accounts and the balance - sheet of the company
for the statutory accounting period are prepared.