Commonwealth Consolidated Acts

INCOME TAX ASSESSMENT ACT 1936 - SECT 316

  (1)   The object of this Part   is to provide for certain amounts to be included in a taxpayer's assessable income (Division   9) in respect of:

  (a)   the attributable income of a CFC (section   456); and

  (b)   certain changes of residence by a CFC (section   457).

  (2)   To that end (and for other purposes of this Act) this Part   contains rules relating to the following:

  (a)   interpretation (Division   1);

  (b)   types of entities (Division   2);

  (c)   control interests, attribution interests, attributable taxpayers and attribution percentages (Division   3);

  (d)   attribution accounts (Division   4);

  (g)   the calculation of attributable income of a CFC (Division   7);

  (h)   the active income test (Division   8);

  (j)   post - attribution asset disposals (Division   10);

  (k)   the keeping of records (Division   11).