Section 383 — Income Tax Assessment Act 1936: Basic assumptions

The assumptions are: (a) that the eligible CFC is a taxpayer and a resident, within the meaning of section 6, during the whole of the eligible period; and (b) that the eligible period is a year of income, being the year of income of the eligible taxpayer in which the eligible period ends; and (c) that this Act is modified in accordance with Subdivisions B to E; and (d) whichever of the assumptions in section 384 or 385 applies.