Section 381 — Income Tax Assessment Act 1936: Separate attributable income for each attributable taxpayer

Where, at the end of a statutory accounting period (in this Division called the eligible period) of a company: (a) the company is a CFC; and (b) there are one or more attributable taxpayers in relation to the company; the attributable income of the company (in this Division called the eligible CFC) for the eligible period is calculated separately for each such attributable taxpayer (in this Division called the eligible taxpayer) in accordance with this Division.