INCOME TAX ASSESSMENT ACT 1997 - SECT 961.65 Reductions to take account of change in circumstances

INCOME TAX ASSESSMENT ACT 1997 - SECT 961.65

  (1)   The amount of the notional tax offset under section   961 - 60 is reduced in accordance with subsection   (2) if:

  (a)   paragraph   961 - 55(1)(a) applies during only part of the year; or

  (b)   paragraph   961 - 55(1)(c) does not apply because of subsection   961 - 55(2).

  (2)   The amount of the notional tax offset is reduced to an amount that, in the Commissioner's opinion, is a reasonable apportionment in the circumstances, having regard to the matters referred to in paragraphs   (1)(a) and (b).

Table of Subdivisions

974 - A   General

974 - B   Debt interests

974 - C   Equity interests

974 - D   Common provisions

974 - E   Non - share distributions by a company

974 - F   Related concepts