Section CH 10 — Income Tax Act 2007: Interest apportionment: reporting bank

CH 10 Interest apportionment: reporting bank When this section applies (1) This section applies when a reporting bank is required under section FE 7 (Apportionment of interest by reporting bank) to apportion its interest expenditure. Income (2) The amount calculated under section FE 7(2) is treated as income of the reporting bank for the income year in which the measurement period falls. Defined in this Act: amount , income , income year , interest , measurement period , reporting bank Compare: 2004 No 35 s FG 8B(1)