Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The determinations the Commissioner may make are as follows:
(a) a determination of an amount by which the taxable income of the entity for an income year is increased;
(b) a determination of an amount by which the tax loss of the entity for an income year is decreased;
(c) a determination of an amount by which the * net capital loss of the entity for an income year is decreased.
(2) If the Commissioner makes a determination under subsection (1), the determination is taken to be attributable, to the relevant extent, to such of the following as the Commissioner may determine:
(a) an increase of a particular amount in assessable income of the entity for an income year under a particular provision of this Act;
(b) a decrease of a particular amount in particular deductions of the entity for an income year;
(c) an increase of a particular amount in particular capital gains of the entity for an income year;
(d) a decrease of a particular amount in particular capital losses of the entity for an income year.
(3) If the Commissioner makes a determination under subsection (1), the Commissioner must make a determination under subsection (2), unless it is not possible or practicable for the Commissioner to do so.
Example: If section 815 - 25 is relevant in working out the transfer pricing benefit an entity gets, this subsection requires the Commissioner to make a determination relating to the debt deductions of the entity.
(4) Nothing done under subsection (2) affects the validity of a determination made under subsection (1).
(5) The Commissioner may take such action as the Commissioner considers necessary to give effect to a determination under this section.
(6) The Commissioner must give a copy of a determination under this section to the entity.
(7) A failure to comply with subsection (6) does not affect the validity of the determination.