Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 534

             (1)  The object of this Division is to prescribe methods for determining whether any foreign investment fund income accrued from a particular FIF or FLP in respect of a notional accounting period to a taxpayer to whom the operative provision applies in relation to the FIF or FLP in respect of that period.

             (2)  Subject to this Subdivision, there are 3 alternative methods for making a determination in relation to a FIF, as follows:

                     (a)  the method set out in Subdivision B ( the market value method );

                     (b)  the method set out in Subdivision C ( the deemed rate of return method );

                     (c)  the method set out in Subdivision D ( the calculation method ).

             (3)  Subject to this Subdivision, there are 2 alternative methods for making a determination in relation to a FLP, as follows:

                     (a)  the method set out in Subdivision E ( the deemed rate of return method );

                     (b)  the method set out in Subdivision F ( the cash surrender value method ).