Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) For the purposes of step 6A in the table in section 705 - 60, the step 6A amount is worked out by multiplying the sum of the * FRT disallowed amounts mentioned in subsection (2) by the * corporate tax rate.
(2) The * FRT disallowed amounts are the joining entity's FRT disallowed amounts that:
(a) did not accrue to the joined group before the joining time (see subsection (3)); and
(b) are transferred to the * head company under section 820 - 590; and
(c) are not cancelled under section 820 - 592;
to the extent that they were not applied by the joining entity under paragraph 820 - 56(2)(b) in respect of the income year in which the joining time occurred or any earlier income year.
(3) For the purposes of subsection (2), a * FRT disallowed amount accrued to the joined group before the joining time if and to the extent that, assuming that as it arose it were instead a profit that was accruing, a distribution of that profit would have been a distribution made to the joined group out of profits that accrued to the joined group before the joining time.