Section 316 — Income Tax Assessment Act 1936: Object of Part

(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).